Eurozone retail sales surge in July despite Brexit
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by the European Union’s statistics office Eurostat, retail sales in the Euro zone surged more than estimated in July and witnessed the biggest monthly increase of the year after the UK’s Brexit vote to leave the European Union in June.
Eurostat’s data shows that retail sales outpaced the economists’ forecasts and increased more than expectations both on a monthly and yearly basis in July, respectively at 1.1% and 2.9%. Plus, the monthly rise in July was the highest increase within this year after a 0.4% rise recorded in May.
In the Euro zone, monthly sales were mostly supported by consumer purchases of car fuel while retail sales of food, drinks and tobacco products were up by 1.1%.
Monthly retail sales in the European Union decreased by 0.2% in June and grew 1% during July. In the UK, after recording a 0.8% fall in June, sales rose by 1.3% in July.
Eurostat’s data shows that retail sales outpaced the economists’ forecasts and increased more than expectations both on a monthly and yearly basis in July, respectively at 1.1% and 2.9%. Plus, the monthly rise in July was the highest increase within this year after a 0.4% rise recorded in May.
In the Euro zone, monthly sales were mostly supported by consumer purchases of car fuel while retail sales of food, drinks and tobacco products were up by 1.1%.
Monthly retail sales in the European Union decreased by 0.2% in June and grew 1% during July. In the UK, after recording a 0.8% fall in June, sales rose by 1.3% in July.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Stats: Türkiye’s Q3 polymer imports down 9.5% year over year
- India's ADD proposal continues to echo through PVC markets: World’s largest buyer reshapes global trade
- Stats: Türkiye’s cumulative polymer imports hit 3-year low in Jan-Sept
- PP, PE markets torn between firmer monomers and poor dynamics in Europe
- Peak season closes with modest PP, PE gains in China, except for LDPE’s strong stand
- India finally announces ADD on S-PVC imports: What’s in store for subject countries?
- Turkish PE players hunt for signs of a market bottom amid pending Nov offers
- Freight rates rise after prolonged slump; is this rebound here to say or just a dead cat bounce?
- India’s PVC price range narrows as low-end Chinese offers fade amid ADD speculation
- Slump deepens in European plastics recycling industry
