Volume of Retail Sales in Eurozone Reduced in Late 2017
Retail sales in the euro area declined in December after a recovery a month ago. Data from the statistical office of the European Union Eurostat showed that retail trade fell 1.1% in December, as opposed to a 2% increase in November. The result coincided with the forecasts of analysts.
The annual growth in retail sales fell to 1.9% from 3.9% in the previous month. Economists forecast sales growth of 1.8%. The volume of sales of food, beverages and tobacco fell by 0.7% per month, while sales of non-food products decreased by 1.2%.
Sales in 28 EU countries fell by 1% month-on-month in December, but rose by 2.4% per annum. On average, retail sales for the year 2017 increased by 2.6% in both the Eurozone and the EU 28.