Eurozone retail trade falls more than expected in July

ISTANBUL

Euro area retail sales fell 0.5% in July from a month ago, more than market expectations, according to official data released by Eurostat on Thursday.

In the EU, sales also fell 0.4% in the same month. The market expectation for the euro area was a monthly drop of 0.3% in July

The highest drop in sales volumes in the euro area was seen in sales of automotive fuel in specialized stores, down 1.7% on a monthly basis.

The sales volumes in July also fell 1.1% for food, drinks, and tobacco.

On the other hand, sales volumes for non-food products (except automotive fuel) climbed 0.2% in July.

Among EU members for which data are available, the largest monthly declines were seen in Croatia (-4%), Estonia (-2%), and Germany (-1.5%).

Conversely, the largest rises were in Lithuania (up 1.5%), Latvia (1.4%), and the Netherlands (1.1%) in July.

On an annual basis, retail sales grew by 2.2% in the euro area and 2.4% in the EU in July, below market forecasts.

The eurozone/euro area, or EA20, is made up of member states that use the bloc's single currency, the euro, whereas the EU27 includes all member countries.