EU, Eurozone Retail Sales Miss Projections Despite June Increase
(MENAFN) Retail trade volumes in both the European Union and the eurozone recorded a modest 0.3% increase in June, slightly missing analysts’ projections of 0.4%, according to data published Wednesday by Eurostat.
Compared to June of last year, retail activity surged by 3.1% across both the 27-nation EU and the euro area, the statistics agency reported.
Breaking it down by sector in the eurozone, non-food product sales rose by 0.6% month-over-month, while automotive fuel climbed by 0.4%, and food, beverages, and tobacco ticked up by 0.2%. In the broader EU, the monthly increases stood at 0.6% for both non-food items and fuel, and 0.2% for food and related goods.
Among individual countries, the steepest monthly gains were observed in Croatia (3.6%), Sweden (2.6%), and Malta (2.2%).
In contrast, the biggest declines came from France, which saw a 0.9% drop, followed by Poland and Slovenia, both down 0.8%, and Denmark, which slipped 0.7%.
Looking at year-on-year figures, the most notable spikes in retail trade volume were registered in the Greek Cypriot Administration (8.7%), Croatia (7.4%), and both Malta and Portugal, each recording a 6.9% increase.
Annual decreases were limited, with Finland down 1.1% and Slovakia dipping 0.4%.
The eurozone, or EA20, includes EU nations that have adopted the euro as their official currency.
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