Monthly Decline in Retail Trade

Retail trade in the euro area declined by 0.5% in July compared to June, while the European Union observed a decrease of 0.4% in the same month, according to Eurostat's report released on Thursday.

Annual Growth Trends

On an annual basis, retail sales advanced by 2.2% in the Eurozone and by 2.4% across the broader EU bloc.

Sector-Specific Performance

Retail sales volumes for food, drinks, and tobacco saw a monthly decrease of 1.1% in the euro area and 0.9% in the EU. Meanwhile, sales of non-food products rose by 0.2% in both regions. Retail sales for automotive fuel in specialized stores slumped by 1.7% in the euro area and 1.3% in the EU.

Country-Level Variations

Countries that recorded the largest month-on-month decreases were Croatia, where retail sales went down by 4.0%, followed by Estonia with a fall of 2.0%, and Germany with a 1.5% dip. On the other hand, retail sales in Lithuania and Latvia rose by 1.5% and 1.4%, respectively.