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Eurozone Retail Sales Rebound In October

Eurozone retail sales grew in October after decreasing in the previous month, preliminary data from Eurostat showed on Wednesday.

Retail sales grew 0.3 percent from September, when they fell 0.5 percent, after the stagnation reported earlier was revised. Economists had forecast a 0.2 percent increase for October.

Sales of automotive fuel increased 1.0 percent, and those of food, drinks and tobacco grew 0.6 percent. In contrast, sales of non-food products decreased 0.1 percent.

On a year-on-year basis, retail sales increased 1.7 percent in October after a 0.3 percent increase in September, which was revised from 0.8 percent. Economists were looking for a 2 percent gain.

In the EU28, retail sales edged up 0.1 percent from September, when they dropped 0.3 percent. Compared to a year ago, sales rose 2.1 percent in October after a 1.3 percent gain in the previous month.

The biggest increases were logged in Slovenia, Portugal and Austria, while the worst declines were seen in Finland, Denmark and Sweden.

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