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- Eurozone retail sales fall as expected in July
Eurozone retail sales fall as expected in July
Eurostat, the
statistical office of the European Union (EU) reported on Wednesday that the
seasonally adjusted volume of retail trade in the Eurozone fell by 0.6 percent
m-o-m in July, following a revised 1.2 increase m-o-m in June (originally a 1.1
percent m-o-m gain). That marked the largest monthly drop in retail trade since
December 2018.
In y-o-y terms,
adjusted retail sales grew by 2.2 percent, following a revised 2.8 percent surge
in June (originally a 2.6 percent increase).
Economists had
forecast the Eurozone’s retail sales in July would fall 0.6 percent m-o-m and would
increase 2.0 percent y-o-y.
According to
the report, the July decrease was attributable to the lower retail sales of non-food
products (-1.0 percent m-o-m) and food, drinks and tobacco (-0.3 percent).
Meanwhile, retail sales of automotive fuels remained unchanged.
In y-o-y terms,
the retail sales rose by 2.8 percent for non-food products, by 2.0 percent for
automotive fuel and by 1.3 percent for food, drinks and tobacco.
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