Retail trade in the euro area declined in July

In July, the retail turnover of the euro area declined more than expected in comparison with the previous month, according to a statement published by the European Union’s statistical office Eurostat on Tuesday.

Compared to the previous month, retail sales in the 19 member states of the euro area decreased by 0.3 percent in July this year, and by 0.2 percent in the 28 EU member states.

Last month retail sales in the euro area increased by 0.6 percent and by 0.5 percent in the European Union compared to May’s retail trade.

On a yearly basis, compared to July 2016, retail sales grew 2.6 percent in the euro area this year, and 2.7 percent in the EU. (MTI)