Retail sales decreased in the euro area and the EU in December

The statistical office of the European Union, Eurostat, announced on Tuesday, as non-final data, that in December the retail turnover in the euro area fell by 1.1 percent compared to November, more significantly than the 0.9 percent expected by analysts, while it shrank by 1 percent in the European Union.

On an annual basis, retail sales in the euro area fell by 0.8 percent in December after a 0.4 percent decrease in November. Analysts had expected a somewhat larger, 0.9 percent annual decline in turnover in the Eurozone. In the European Union, retail sales fell by 0.7 percent compared to December 2022.

On a monthly basis, the largest decrease in retail sales was recorded in Slovenia (-3.6 percent), Denmark (-3.2 percent) and Luxembourg (-3.1 percent). The biggest increase was in Slovakia with 2 percent.