Eurozone retail sales declined unexpectedly in May due to weak turnover in food and automotive fuels, data from Eurostat revealed Thursday.
Retail sales slid 0.3 percent month-on-month in May, following a 0.1 percent fall in April. Sales were forecast to grow 0.3 percent.
Food, drinks and tobacco sales decreased 0.5 percent and non-food product sales dropped 0.1 percent. Sales of automotive fuels were down 1.3 percent.
On a yearly basis, retail sales growth eased to 1.3 percent from 1.8 percent a month ago. This was the slowest growth seen so far this year. Growth in sales was forecast to moderate to 1.6 percent.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.