The euro area’s retail sales fell unexpectedly in August

Instead of expected growth, the retail turnover of the euro area declined in August, according to a report by the European Union’s statistical office, published on Wednesday.

Compared to the previous month, the volume of retail sales declined by 0.5 percent in 19 EU member states, while remained unchanged in the 28 EU member states.

Retail market turnover in the euro area fell by 0.3 percent in July. Market analysts expected a 0.3 percent increase in August.

The 0.5 percent decline in August was the biggest monthly decline in the euro area’s retail trade since March 2016. (MTI)