Retail sales in the euro area declined on a monthly basis

Euro area retail sales decreased month-on-month

The European Union’s statistical office, Eurostat, said on Friday that retail sales fell 2.3 percent in July on a monthly basis. Experts expected a minimal increase of 0.1 percent following the 1.8 percent expansion in June.

On an annual basis, euro area retail growth slowed to 3.1 percent from 5.4 percent in June. On average, there was a less deteriorating figure in expert expectations, an increase of 4.8 percent for July. (MTI)