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Eurozone Retail Sales Recover In March

5/4/2012 5:11 AM ET

Eurozone retail sales volume climbed 0.3 percent month-on-month in March, offsetting February's 0.2 percent drop, Eurostat said Friday. Economists were expecting sales to remain flat in March.

Meanwhile, sales were down 0.2 percent on a yearly basis. The rate of decline slowed from the 2.1 percent drop seen in February. Also, March's drop was smaller than the 1.1 percent fall forecast by economists.

Food sales remained flat from a month ago, following 0.6 percent rise in February. On the other hand, non-food product sales edged up 0.1 percent, reversing a 0.3 percent decrease in the prior month.

In the EU27, the volume of retail trade increased 0.7 percent from a month ago, taking the annual growth to 1 percent.

by RTT Staff Writer

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