Retail sales volume down in eurozone, EU in August more than expected

ISTANBUL

The retail trade volume in the euro area was down by 1.2% in the euro area and 0.9% in the EU month-on-month in August and fell 2.1% and 2%, respectively, on a yearly basis, exceeding market expectations, official figures revealed on Wednesday.

According to Eurostat, the bloc's statistical authority, sales decreased by 3% for automotive fuels, 1.2% for food, and 0.9% for non-food products month-on-month in the eurozone.

Meanwhile, the volume of retail trade decreased by 2.4% for automotive fuels, 0.9% for food, drinks, and tobacco, and 0.6% for non-food products in the EU.

Among member countries, the largest monthly decreases were registered in Portugal (-3.0%), France (-2.8%), and Belgium (-1.5%), and the highest increases were seen in Luxembourg (+1.9%), Poland (+1.7%), and Denmark (+1.6%).

On an annual basis, the volume of retail trade fell by 7.7% for automotive fuels, 3.2% for food, drinks, and tobacco, and 0.2% for non-food products in the euro area, and decreased by 7.4% for automotive fuels, 3.0% for food, drinks and tobacco, and 0.1% for non-food products in the EU.

"Among member states for which data are available, the largest yearly decreases in the total retail trade volume were registered in Slovenia (-21.5%), Belgium (-8.5%) and Estonia (-7.9%).

"The highest increases were observed in Luxembourg (+8.7%), Spain (+8.1%), and Cyprus (+5.9%)," Eurostat said.