05.Dec .2022 21:00

Eurozone retail sales down sharply in October

Eurozone retail sales down sharply in October
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Retail sales decreased 2.7% in the euro area year-on-year in October, the EU's statistical authority revealed on Monday.

In the EU, retail sales also dropped 2.4% over the same period, according to Eurostat.

On a monthly basis, retail sales were down by 1.8% in the euro area and 1.7% in the EU.

In the euro area, the volume of retail trade was down by 3.9% for non-food products and 2.6% for food, drinks and tobacco, while it grew 2.5% for automotive fuels on a yearly basis.

"In the EU, the retail trade volume decreased by 3.6% for food, drinks and tobacco and by 2.6% for non-food products, while it grew by 3.3% for automotive fuels," it added.

Among member countries, the largest declines were posted by Denmark with 9.5%, Sweden with 6.4%, and Belgium with 5.7%, while the highest increases were seen in Slovenia (8.5%), Malta (7.2%) and Latvia (5.7%).