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Retail sales in the eurozone in August fell the most in 8 months


October, 04 2023
watermark Economic news

According to the report of the Statistical Office of the European Union Eurostat, the volume of retail sales in the eurozone in August decreased by 1.2% compared to the previous month. 


This decrease turned out to be higher than analysts expected, who predicted a decrease of 0.5%. The current figure was the most significant decline in the last eight months.


The revised data also showed that retail sales decreased by 0.1% in July, in contrast to the previous estimate, which was 0.2%. 


Sales of motor fuel decreased the most – by 3%. Sales of food, beverages and tobacco products fell by 1.2%, while non-food group goods fell by 0.9%.


The most significant reductions in retail sales were recorded in Portugal (3%), France (2.8%) and Belgium (1.5%). While the largest sales growth was seen in Luxembourg (1.9%), Poland (1.7%) and Denmark (1.6%).


If we talk about the annual dynamics, retail sales in the eurozone fell by 2.1% in August, which exceeded the average forecast of experts, which was 1.2%. This indicator continues to decline for the eleventh month in a row.



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