Instead of the expected growth, retail sales in the euro area stagnated again

By: Trademagazin Date: 2023. 07. 07. 12:24

In a monthly comparison, instead of the expected growth, the retail turnover in the euro area stagnated, and in an annual comparison, it decreased in May.

The statistical office of the European Union, Eurostat, announced on Thursday that retail sales in the euro area did not change in May, and in the European Union it shrank by 0.1 percent compared to April, when stagnation was recorded in the euro area and a 0.1 percent increase in sales in the EU. compared to March.

In an annual comparison, the retail turnover in the euro area fell by 2.9 percent in May after April, while in the EU it shrank by 3.0 percent in May after the 3.1 percent decrease in April.

Analysts had previously expected a 0.2 percent monthly euro zone expansion and a 2.7 percent annual decline.