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Financial News: Eurozone Retail Sales Decline Unexpectedly In April

Eurozone Retail Sales Decline Unexpectedly In April

06/03/2022 - 06:13:00 (RTTNews)

(RTTNews) - Eurozone retail trade dropped unexpectedly in April on weak food sales, Eurostat reported Friday.

Retail sales declined 1.3 percent month-on-month in April, in contrast to the revised 0.3 percent rise in March. Sales were forecast to grow 0.3 percent.

Sales of food, drinks and tobacco fell 2.6 percent and that of non-food products were down 0.7 percent. Meanwhile, mail orders and internet sales advanced 3.4 percent and auto fuel in specialized stores showed a monthly growth of 1.9 percent.

On a yearly basis, retail sales growth improved to 3.9 percent in April from 1.6 percent in March. However, this was slower than the expected increase of 5.4 percent.

Retail trade in the EU27 dropped 1.3 percent on month in April but sales advanced 5.0 percent from the same period last year.

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