Eurozone retail sales weak for the month

Eurozone retail sales were unchanged in August from July as consumers filled up their cars with more gasoline and diesel, but spent less on non-food products such as clothing, books and electrical goods.
By The Newsroom
Published 5th Oct 2015, 18:11 BST

The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro was unchanged during August for a 2.3 per cent year-on-year increase. Economists polled by Reuters had expected a 0.1 per cent monthly decline.

The weak reading in what for many is a holiday month followed a strong performance in July, when sales only fell for computer equipment and books. July’s expansion was also revised up to 0.6 per cent on a monthly basis and 3.0 per cent year-on-year.

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Sentiment in the retail sector has risen steadily since June, with a pick-up in the views of both present and future sales. However, consumer confidence, as measured by the European Commission’s monthly economic sentiment survey, has weakened over that time.

The volume of broadly cheaper automotive fuel sold rose by 1.8 per cent during the month, while sales of food, drinks and tobacco also grew 0.8 per cent. However, non-food product sales declined by 0.3 per cent.

Retail sales in the eurozone’s biggest economy Germany were down 0.4 per cent month-on-month in August

Related topics:European UnionGermany