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Euro area retail sales miss forecasts in April

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Staff 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.
Euro area retail
Europe   Data for Italy and the Netherlands was confidential
Total retail sales volumes edged higher by 0.1% versus March, according to Eurostat, and were 1.7% higher in comparison to the same month one year ago.

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.