Eurozone retail sales fell month-on-month, but rose year-on-year in May

According to data published by Eurostat, the statistical office of the European Union, retail sales in the eurozone fell by 0.7 percent in May in line with analysts’ expectations, and in the European Union by 0.8 percent month-on-month, after a 0.3 percent increase in the eurozone and a 0.8 percent increase in the EU in the previous month.

In the European Union, retail sales of food, beverages and tobacco products fell by 0.8 percent in May compared to the previous month, while non-food products excluding fuel fell by 0.7 percent and fuel fell by 1.2 percent.

In annual terms, retail sales in the euro area rose by 1.8 percent in May, following a 2.7 percent increase in April, exceeding analysts’ expectations for a 1.2 percent increase.

In the European Union, retail sales rose by 1.9 percent year-on-year in May, after registering a 3.0 percent increase a month earlier.