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Eurozone retail sales fall at faster than expected pace in March

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/05/2016 (00:45)
According to data released by the European Union’s statistics office Eurostat, retail sales in the eurozone posted the first decline in five months on the back of lower consumer spending. The region’s retail sales decreased 0.5% month over month in March, missing Reuters’ economists’ forecasts calling for a decrease of 0.1%. On a yearly basis, retail sales increased 2.1%, below market expectations of a 2.5% rise.

The monthly decrease was attributed to lower sales in the food, drinks and tobacco and automotive fuel segments, which declined 1.3% and 0.4%, respectively, compared with the previous month. Meanwhile, retail sales in the non-food sector went down 0.5% on the month.

Across the region, the largest monthly decreases were seen in Germany (-1.1%) and France (-0.7%) while sales increased 0.4% in Spain.
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