European Economic News

Eurozone Retail Sales Growth Weakest In 2 Years

Eurozone retail sales annual growth slowed for a second straight month in September to mark its weakest pace in two years, preliminary data from Eurostat showed Monday.

Retail sales grew a calendar adjusted 1.1 percent year-on-year following 1.2 percent increase in August, revised sharply from 0.6 percent. Economists had forecast a gain of 1.2 percent.

The latest increase was the smallest since September 2014, when sales grew 0.8 percent.

Sales of food, drinks and tobacco climbed 1.8 percent versus 0.4 percent increase in the previous month. Growth in sales of non-food products, meanwhile, eased to 0.4 percent from 2 percent.

In EU 28, sales rose 2.2 percent following 2.6 percent increase in the previous month.

On a month-on-month basis, retail sales declined for a second straight month in September, down 0.2 percent, same as in the previous month.

Sales also dropped for second consecutive month in EU28, falling 0.2 percent after a 0.1 percent decrease in August.

by RTTNews Staff Writer

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