Eurozone Retail Sales Drop 11.7% In April By March, Better Than Forecast

Eurozone retail sales fell 11.7% in April compared with March, according to a press release from the European statistical agency Eurostat.

Analysts believed that in April the figure fell in monthly terms by 15%.

On an annualized basis, retail sales in the eurozone in April fell by 19.6%, although analysts had expected a decrease of only 22.3%.

In the European Union, retail sales in April fell by 11.1% compared with March, and year on year – by 18%.

The largest annual decline in sales in April was recorded in France (-31.1%), as well as in Spain (-29.8%), Malta (-24.8%) and Luxembourg (-24.7%).

Sales of food and tobacco products in the eurozone in annual terms in April grew by 2.5%, and in the EU – by 1.4%. Retail sales of non-food products in annual terms fell by 33.6% in the eurozone, and in the European Union – by 29.7%.

source: ec.europa.eu

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