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Financial News: Eurozone Retail Sales Fall Unexpectedly In August

Eurozone Retail Sales Fall Unexpectedly In August

10/03/2018 - 05:22:00 (RTTNews)

(RTTNews) - Eurozone retail sales dropped unexpectedly in August reflecting the weakness in food turnover, figures from Eurostat revealed Wednesday.

Retail sales decreased 0.2 percent month-on-month, following a 0.6 percent drop in July. Economists had forecast a 0.2 percent increase for August. This was the second consecutive fall in sales.

Food, drinks and tobacco turnover slid 0.3 percent, while non-food product sales remained flat in August.

On a yearly basis, growth in retail trade accelerated to 1.8 percent from 1 percent in July. Sales were expected to grow 1.7 percent in August.

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