Eurozone Retail Sales Fall Further In August

Eurozone retail sales decreased for the third straight month in August, though at a slower-than-expected rate, data published by Eurostat revealed on Thursday.

The volume of retail sales dropped 0.3 percent month-over-month in August, following a 0.4 percent fall in July, which was revised from a 0.3 percent rise reported earlier. The expected fall was 0.4 percent.

Sales of food, drinks, and tobacco declined 0.8 percent monthly in August, while those of non-food products, except automotive fuel, increased 0.2 percent.

Sales of automotive fuel in specialised stores grew 3.2 percent. At the same time, sales via mail orders and the Internet showed a decline of 3.8 percent.

On a yearly basis, retail sales fell 2.0 percent in August, after a revised 1.2 percent decrease seen a month ago. That was above the 1.7 percent drop expected by economists.

Retail sales in the EU27 edged down 0.2 percent monthly and declined 1.3 percent from the same period last year.

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