Financial News: Eurozone Retail Sales Fall More Than Forecast

Eurozone Retail Sales Fall More Than Forecast

08/06/2024 - 06:27:00 (RTTNews)

(RTTNews) - Eurozone retail sales fell more than expected in June as both food and non-food products turnover decreased from the prior month, official data revealed Tuesday.

Retail sales decreased 0.3 percent month-on-month in June, in contrast to the 0.1 percent rise in May, Eurostat said. Economists had forecast a marginal 0.1 percent drop for June.

Food, drinks and tobacco sales dropped 0.7 percent after a 1.0 percent rise. At the same time, the decrease in non-food products turnover slowed to 0.1 percent from 0.3 percent.

Automotive fuel in specialized stores posted a faster growth of 0.5 percent following a 0.3 percent increase.

Retail turnover, on a yearly basis, also decreased 0.3 percent in June. This was the first fall in four months. Sales were expected to grow 0.1 percent after rising 0.5 percent in May. Capital Economics' economist Adrian Prettejohn said retail sales will gradually rise over the remainder of the year on the back of strong real household income growth and falling interest rates.

In the EU27, retail trade volume edged down 0.1 percent on month, while it grew 0.1 percent from a year ago.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Singapore Trade Data On Tap For Tuesday (01 hr(s), 44 min(s), 57 sec(s) ago)
(RTTNews) - Singapore will on Tuesday release August figures for non-oil exports, trade balance an ...Full Story»

New York Manufacturing Index Indicates Significant Turnaround In September (10 hr(s), 03 min(s), 57 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»

New York Manufacturing Index Unexpectedly Turns Positive In September (11 hr(s), 07 min(s), 57 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»

Denmark Producer Prices Rise Most In 18 Months (11 hr(s), 40 min(s), 57 sec(s) ago)
(RTTNews) - Denmark's producer prices increased further and at the fastest pace in eighteen mo ...Full Story»

UK House Prices Rise On Bank Of England Rate Cut: Rightmove (12 hr(s), 16 min(s), 57 sec(s) ago)
(RTTNews) - UK house prices increased in September as the traditionally busier Autumn market start ...Full Story»

Czech Producer Price Inflation Eases To 1.1% (12 hr(s), 17 min(s), 57 sec(s) ago)
(RTTNews) - The Czech Republic's industrial producer price inflation eased in August from an 1 ...Full Story»

Eurozone Hourly Labor Cost Growth Slows In Q2 (13 hr(s), 03 min(s), 57 sec(s) ago)
(RTTNews) - Eurozone hourly labor cost growth softened in the second quarter on slower wage growth ...Full Story»

Italy Trade Surplus Grows In July (13 hr(s), 06 min(s), 57 sec(s) ago)
(RTTNews) - Italy's foreign trade surplus increased in July from a year ago as exports grew fa ...Full Story»