Eurozone Retail Sales Experience a Slight Decline

In a recent report released by Eurostat, it was revealed that retail trade in the euro area saw a decrease of 0.7% in May compared to April. Interestingly, the European Union witnessed a contrasting increase of 0.7% during the same period.

Annual Growth Amidst Monthly Fluctuations

On an annual basis, the story is slightly more positive, with retail sales growing by 1.8% in the Eurozone and 1.9% in the EU. This suggests that while monthly figures may fluctuate, the overall trend remains upward.

Breaking Down the Numbers

The report detailed that sales volumes for food, drinks, and tobacco fell by 0.7% in the euro area and 0.8% in the EU. Non-food products didn't fare much better, with sales dropping by 0.6% in the Eurozone and 0.7% in the EU. Automotive fuel sales in specialized stores saw the sharpest decline, falling by 1.3% in the euro area and 1.2% in the EU.

Regional Highlights

Sweden experienced the most significant monthly decrease at 4.6%, followed by Belgium and Estonia with drops of 2.5% and 2.2% respectively. Conversely, Portugal and Bulgaria bucked the trend with increases of 2.1% and 2%, showcasing the varied performance across the continent.