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04.09.2019 17:22

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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