Eurozone Retail Sales Growth Moderates In June

Eurozone retail sales grew at a slower pace in June largely due to the fall in food sales, data from Eurostat showed on Wednesday.

Retail sales grew 1.5 percent on a monthly basis, slower than the 4.1 percent increase in May and economists' forecast of 1.7 percent.

Food, drinks and tobacco sales fell 1.5 percent on month, while non-food product sales advanced 3.4 percent and automotive fuel sales were up 3.8 percent. At the same time, mail orders and internet sales decreased 2.9 percent.

On a yearly basis, retail sales growth moderated to 5 percent from 8.6 percent in the previous month. Sales were forecast to climb 4.5 percent.

The EU27 retail sales gained 1.2 percent on month in June taking the annual growth to 5.3 percent.

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