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Financial News: Eurozone Retail Sales Recover In September

Eurozone Retail Sales Recover In September

11/07/2017 - 05:17:00 (RTTNews)

(RTTNews) - Eurozone retail sales rebounded in September largely reflecting a recovery in food sales, data from Eurostat showed Tuesday.

Retail sales grew 0.7 percent month-on-month in September, reversing a 0.1 percent fall in August. This was the first increase in three months and came in better than the expected expansion of 0.6 percent.

Sale of 'food, drinks and tobacco' advanced 1.3 percent, in contrast to August's 0.1 percent drop. At the same time, growth in non-food product sales increased to 0.5 percent from 0.1 percent.

On a yearly basis, retail sales growth accelerated to 3.7 percent in September from 2.3 percent in August. Sales were forecast to grow 2.8 percent.

Data showed that retail trade volume in EU28 climbed 0.3 percent on month in September, taking the annual growth to 3.5 percent.

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