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Financial News: Eurozone Retail Sales Rise In July

Eurozone Retail Sales Rise In July

09/05/2022 - 05:38:00 (RTTNews)

(RTTNews) - Eurozone retail sales increased moderately in July after falling a month ago, data published by Eurostat revealed on Monday.

The volume of retail sales increased 0.3 percent on a monthly basis in July, reversing a 1.0 percent fall in June. Sales were forecast to climb 0.4 percent. The increase was driven by the 0.1 percent rise in food, drinks and tobacco turnover and the 0.4 percent gain in automotive fuel in specialized stores. Meanwhile, non-food product sales were down 0.4 percent.

On a yearly comparison, retail trade logged a decrease of 0.9 percent, which was much slower than the 3.2 percent decline in June and economists' forecast of -0.7 percent. In the EU27, retail sales rose 0.3 percent on month but it dropped 0.5 percent from the same period last year.

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