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Financial News: Eurozone Retail Sales Fall More Than Expected

Eurozone Retail Sales Fall More Than Expected

02/05/2020 - 05:08:00 (RTTNews)

(RTTNews) - Eurozone retail sales declined more than expected in December on weak food and non-food product sales, data from Eurostat revealed Wednesday.

Retail turnover declined 1.6 percent in December from November, when it was up 0.8 percent. Economists had forecast a 1.1 percent drop.

Sales of food, drinks and tobacco fell 1.4 percent and that of non-food products decreased 1.6 percent in December. Automotive fuel sales were down 1.4 percent.

On a yearly basis, retail sales growth eased to 1.3 percent from 2.3 percent in November. This was also slower than the forecast of 2.3 percent.

In the EU27, retail sales decreased 1.3 percent on month but grew 1.9 percent from last year.

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