Euro area retail sales miss forecasts in AprilStaff Writer | June 5, 2018
Euro area retail sales growth undershot market forecasts in April, weighed down by a sharp drop in those of foods, drinks and tobacco.
Europe Data for Italy and the Netherlands was confidential
Economists had penciled-in growth of 0.5% month-on-month and a rise of 1.9% year-on-year.
The main drag on sales came from a 0.7% drop in those of food, drinks and tobacco, although the biggest drop versus March was seen in sales of automotive fuel in specialised stores.
Sales of non-food products excluding petrol on the other hand jumped by 1.7%, following four consecutive months of either flat or lower readings.
Those of textiles, clothing and footwear were strongest, rising by 3.7%.
By countries, in Germany retail sales volumes were 2.3% stronger than in March, but fell by 1.2% in France and 0.7% in Spain.
Data for Italy and the Netherlands was confidential. ■