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Financial News: Eurozone Retail Sales Fall Unexpectedly In August

Eurozone Retail Sales Fall Unexpectedly In August

10/04/2017 - 05:38:00 (RTTNews)

(RTTNews) - Eurozone retail sales decreased for the second straight month in August, defying economists' forecast for a rebound, data from Eurostat showed Wednesday.

Retail sales volume fell 0.5 percent month-over-month in August, following a 0.3 percent drop in July. Meanwhile, economists had expected a 0.3 percent rise for the month.

Sales of food, drinks and tobacco declined 0.3 percent over the month and those of non-food products, except automotive fuel slid by 0.4 percent.

On a yearly basis, retail sales grew at a slower pace of 1.2 percent in August, after a 2.3 percent gain in the prior month, which was revised down from 2.6 percent. The expected rate of growth was 2.6 percent.

In the EU28, retail sales climbed 2.0 percent annually in August, while it showed no variations from the preceding month.

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