Financial News: Eurozone Retail Sales Recover In March

Eurozone Retail Sales Recover In March

05/07/2024 - 06:59:00 (RTTNews)

(RTTNews) - Eurozone retail sales recovered in March driven by higher sales of food and auto fuels, data from Eurostat showed on Tuesday.

Retail sales rebounded 0.8 percent on a monthly basis in March, in contrast to the 0.3 percent fall in February. Economists had forecast an increase of 0.6 percent.

Sales of food, drinks and tobacco advanced 1.2 percent, reversing a 0.5 percent drop in the previous month. Non-food product sales remained flat after a 0.3 percent gain. Automotive fuel in specialised stores posted an expansion of 2.0 percent, offsetting February's 0.9 percent decrease.

Year-on-year, retail sales registered a 0.7 percent rise after declining 0.5 percent in February.

The retail sales volume in the EU27 grew 1.2 percent on month and advanced 2.0 percent from the same period last year.

The highest annual increases in the total retail trade volume were recorded in Poland, Luxembourg and Croatia. Meanwhile, Belgium, Estonia and Austria reported the largest decreases.

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