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Financial News: Eurozone Retail Sales Rise More Than Expected

Eurozone Retail Sales Rise More Than Expected

10/05/2020 - 05:32:00 (RTTNews)

(RTTNews) - Eurozone retail sales grew more than expected in August driven by the relaxation of the coronavirus containment measures, data published by Eurostat showed on Monday.

Retail sales grew 4.4 percent month-on-month in August, in contrast to a 1.8 percent fall in July. Economists had forecast a monthly growth of 2.4 percent.

Sales of food, drinks and tobacco advanced 2.4 percent and non-food product sales rebounded 6.1 percent. Automotive fuel in specialized stores grew 2.1 percent from the previous month.

On a yearly basis, retail sales climbed 3.7 percent, reversing a 0.1 percent drop in July. Sales were expected to rise 2.2 percent.

Sales in the EU27 gained 3.8 percent on month in August, taking the annual growth to 3.5 percent.

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