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