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Eurozone Retail Trade Weaker Than Anticipated in August as Food Sales Drop

Weakening of the euro on world currency exchanges.

Eurozone retail sales were smaller than expected in August, as consumers cut spending on food, drinks, and tobacco.

Source: Eurostat.

Euro Stoxx 50 down -2.14%, EUR USD down -0.54%

Retail sales in the 19 countries bloc increased by 0.3% month-on-month in August and were unchanged from a year earlier.

Eurostat stated that food, drinks, and tobacco sales dropped 1.7% month-on-month and by 1.9% year-on-year, holding back the overall index even though sales via mail order and internet increased.

The online sales, which have been strong since the inception of the pandemic, increased 9.0% from July after two consecutive months of declines and were 8.5% higher from a year earlier.

On an annualized basis, the volume of retail trade increased by 1.3% for non-food products and 1.2% for automotive fuels as foods, drinks and tobacco fell by 1.9%

The highest monthly increases in total retail trade were posted in Malta (+2.7%), Ireland (+2.5%), and Slovakia (+2.0%). In contrast, the largest decreases were recorded in Denmark (-1.4%), Estonia, and France (both -1.2%).


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