Largest monthly decreases recorded in Denmark, Netherlands, Estonia
Euro area retail sales fell 1.2% month-on-month in June as rising prices and lower confidence dented consumer spending, according to latest data released on Wednesday.
“In the euro area in June, compared with May, the volume of retail trade decreased by 2.6% for nonfood products, by 1.1% for automotive fuels and by 0.4% for food, drinks and tobacco,”read a statement by Eurostat, the EU’s statistical office.
On an annual basis, retail sales in the euro area declined by 3.7%.
The eurozone/euro area, or EA19, represents member states that use the bloc’s single currency the euro while the EU27 includes all of its member countries.
For the EU, retail sales were down 1.3% in June on a monthly basis, along with an annual drop of 2.8%.
The largest monthly decreases were in Denmark (minus 3.8%), the Netherlands (minus 3.4%) and Estonia (minus 2.4%).
On the flip side, Ireland and Malta (both 0.5%), Finland (0.3%) and Austria (0.2%) recorded the highest increases.