Euro zone retail sales rise

Retail sales rose 0.2 per cent in both the euro zone and the European Union as a whole in July, according to new figures from…

Retail sales rose 0.2 per cent in both the euro zone and the European Union as a whole in July, according to new figures from Eurostat.

In June, retail trade had risen by 0.7 per cent and 0.5 per cent respectively.

On an annual basis, retail sales volumes were down by 0.2 per cent in both the euro zone and the EU as a whole.

Total retail trade grew in ten EU countries during July with the largest increases recorded in Portugal, Romania and Latvia and the highest decreases in Malta, Finland and Denmark. Retail trade in Germany and Spain was unchanged.

Food, drinks and tobacco trade volumes fell by 0.4 per cent in the euro zone and by 0.3 per cent in the EU27 in July. In the non-food sector, trade was up by 0.5 per cent and 0.6 per cent respectively.

In the 12 months to the end of July, retail trade rose in 12 member states and decreased in nine. The largest increases were in Luxembourg, Lithuania and Latvia, and the biggest decreases in Malta, Portugal and Denmark.

Food, drinks and tobacco trade volumes dropped by 2 per cent in the euro zone and by 2.2 per cent in the EU27 on an annual basis. In the non-food sector, trade was up 1.7 per cent in both the euro zone and the EU as a whole.

Separately, new figures from Visa Europe indicate that consumer spending grew 2.5 per cent year-on-year in the second quarter with steady growth recorded in most EU markets.

Charlie Taylor

Charlie Taylor

Charlie Taylor is a former Irish Times business journalist