Eurostat: Retail Growth Slowed

Retail sales in the European Union stagnated in June compared to the previous month, while its annual growth slowed, according to the latest report from Eurostat.

Seasonally adjusted retail sales in the EU stagnated in June compared to the previous month, when it increased by 0.6 percent, according to data from the European statistical office.

The highest increase was recorded in the category of food, beverages, and tobacco, by 0.4 percent. Sales at gas stations increased by 0.1 percent, while non-food products decreased by 0.4 percent.

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In the eurozone, retail sales in June increased by 0.3 percent compared to May, when it rose by the same percentage, the report showed.

The highest increase was also recorded in the category of food, beverages, and tobacco, by 0.7 percent. This was followed by gas stations, with a sales increase of 0.6 percent, while retail sales of non-food products decreased by 0.3 percent.

Among member countries, the strongest monthly retail sales jump in June was recorded by Germany, at 1.2 percent. Spain and Poland followed, each with a 0.7 percent increase in sales.

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The largest decline was recorded in Sweden and Finland, each by 2.1 percent, and in Estonia, by 1.9 percent.

Annual retail sales growth in the EU slowed

On an annual basis, retail sales in the EU in June increased by 1.9 percent, after a 2.5 percent increase in the previous month, according to Eurostat’s report.

In the category of food, beverages, and tobacco, retail sales increased by two percent, in the category of non-food products by 1.9 percent, and in the category of motor fuels by 1.2 percent.

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In the eurozone, retail sales in June increased by 1.2 percent, after a 1.6 percent increase in the previous month.

The highest sales growth was also recorded in the category of food, beverages, and tobacco, by 1.7 percent, followed by non-food products, with a sales increase of 1.3 percent.

At gas stations in the eurozone, sales decreased by 0.6 percent.

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Among member countries, the largest annual sales jump in June was recorded by Romania, at 7.8 percent. Lithuania followed with 7.2 percent, Hungary with 6.1 percent, and Bulgaria with a six percent increase in sales.

The largest sales decline was recorded in Malta, by 1.5 percent, in Austria, by 1.4 percent, and in Estonia by 1.2 percent.