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3/4, 11:02 AM (Source: TeleTrader)
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Eurozone's retail sales down by 5.9% in January

The seasonally adjusted volume of retail trade went down by 5.9% in the Eurozone and by 5.1% in the European Union in January compared to the previous month, the bloc's statistical office Eurostat revealed on Thursday. Both figures fell significantly below analysts' expectations. On an annual level, the retail sales dropped by 5.1% in the Euro area and by 1.4% in the EU.

The Eurozone saw a drop of 12% in the sales of non-food products and 1.1% in automotive fuels. On the other hand, it experienced a rise of 1.1% in the sales of food, drinks, and tobacco. Meanwhile, the trade in the EU decreased by 9.9% for non-food products and by 0.3% for automotive fuels and went up by 1.1% for food, drinks, and tobacco.

The major increases were noted in Sweden, Bulgaria, and Estonia, while the sharpest declines were observed in Austria, Ireland, and Slovakia.

Breaking the News / JR