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Financial News: Eurozone Retail Sales Recover In May

Eurozone Retail Sales Recover In May

07/06/2021 - 05:56:00 (RTTNews)

(RTTNews) - Eurozone retail sales expanded in May after falling in the previous month, Eurostat reported Tuesday.

Retail turnover grew 4.6 percent month-on-month in May, reversing a 3.9 percent fall in April. This was also faster than the economists' forecast of 4.4 percent.

Sales of food, drinks and tobacco dropped 0.2 percent, while non-food product sales were up 8.8 percent. Sales of automotive fuel in specialized stores grew 8.1 percent.

On a yearly basis, retail sales growth moderated to 9 percent from 23.3 percent in April. Economists had forecast sales to rise 8.2 percent.

Retail sales in the EU27 advanced 4.6 percent on month in May and by 9.2 percent from the same period last year.

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