Financial News: Eurozone Retail Sales Rise Less Than Forecast

Eurozone Retail Sales Rise Less Than Forecast

01/09/2025 - 06:00:00 (RTTNews)

(RTTNews) - Euro area retail sales rose less than expected in November, led by food and auto fuel turnover, and reflected the subdued household consumption towards the end of 2024.

Retail sales grew 0.1 percent on month in November after easing 0.3 percent in October, data from Eurostat showed Thursday. Sales were expected to climb 0.3 percent.

Sales of food, drinks and tobacco rose 0.1 percent, while non-food product sales declined 0.6 percent. Automotive fuel in specialized stores increased 0.8 percent from the previous month.

Year-on-year growth in retail sales softened to 1.2 percent from 2.1 percent in October.

Retail sales in the EU rebounded 0.2 percent in November after a 0.1 percent drop a month ago. Annually, retail sales growth weakened to 1.5 percent from 2.2 percent. Among member countries of the EU, the highest monthly increases in the total retail trade volume were recorded in Cyprus, Bulgaria, Denmark and Latvia. Meanwhile, the largest decreases were observed in Belgium, Germany and Spain.

Capital Economics' economist Andrew Kenningham said euro area household consumption is likely to grow at a moderate pace this year.

Rising real incomes, continued employment growth and falling interest rates should support consumption and in some countries, immigration is boosting spending, he noted.

However, the economist cautioned that there are downside risks to the forecast of average quarterly consumption growth of 0.3 percent this year.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Moldova Industrial Production Decline Eases In November (14 hr(s), 23 min(s), 13 sec(s) ago)
(RTTNews) - Moldova's industrial production contracted for the fourth straight month in Novemb ...Full Story»

Luxembourg Jobless Rate Steady At 5.9% (15 hr(s), 03 min(s), 13 sec(s) ago)
(RTTNews) - Luxembourg's unemployment rate held steady for the second straight month in Decemb ...Full Story»

Greece Current Account Deficit Narrows In November (15 hr(s), 48 min(s), 13 sec(s) ago)
(RTTNews) - Greece's current account deficit declined in November due to an improvement of the ...Full Story»

Eurozone Construction Output Expands 1.2%, Strongest Since Early 2023 (17 hr(s), 12 min(s), 13 sec(s) ago)
(RTTNews) - Eurozone construction production grew at the fastest pace in nearly two years in Novem ...Full Story»

UK House Prices Rise Most Since 2020: Rightmove (17 hr(s), 26 min(s), 13 sec(s) ago)
(RTTNews) - UK house prices increased the most since 2020 and new sellers coming to the market hit ...Full Story»

Italy Construction Output Grows Most In 10 Months (17 hr(s), 46 min(s), 13 sec(s) ago)
(RTTNews) - Italy's construction output increased for the third straight month in November, ac ...Full Story»

Hong Kong Jobless Rate Steady At 3.1% (18 hr(s), 04 min(s), 13 sec(s) ago)
(RTTNews) - Hong Kong's unemployment rate held steady in the October-December period, labor fo ...Full Story»

Swiss Producer And Import Prices Fall 0.9% (19 hr(s), 38 min(s), 13 sec(s) ago)
(RTTNews) - Switzerland's producer and import prices continued to decline in December, though ...Full Story»