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Financial News: Eurozone Retail Sales Fall Unexpectedly In May

Eurozone Retail Sales Fall Unexpectedly In May

07/04/2019 - 05:33:00 (RTTNews)

(RTTNews) - Eurozone retail sales declined unexpectedly in May due to weak turnover in food and automotive fuels, data from Eurostat revealed Thursday.

Retail sales slid 0.3 percent month-on-month in May, following a 0.1 percent fall in April. Sales were forecast to grow 0.3 percent.

Food, drinks and tobacco sales decreased 0.5 percent and non-food product sales dropped 0.1 percent. Sales of automotive fuels were down 1.3 percent.

On a yearly basis, retail sales growth eased to 1.3 percent from 1.8 percent a month ago. This was the slowest growth seen so far this year. Growth in sales was forecast to moderate to 1.6 percent.

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