Retail trade in the euro area declined 1.2% in June compared to the month prior, while falling 1.3% in the European Union, Eurostat revealed in its report on Wednesday. On an annual basis, the figure plunged 3.7% in the Eurozone and 2.8% in the EU. Both the monthly and yearly figures were well below market expectations for the euro area.
Non-food products retail trade in both the euro area and the EU decreased 2.6% in June, when compared to May. The reading for automotive fuels was 1.1% lower in the Eurozone and 1.4% down in the EU. In addition, food, drinks and tobacco retail trade fell in both the euro area and the EU by 0.4% and 0.2% respectively.
Countries that recorded the highest month-on-month decline in retail sales were Denmark with negative 3.8%, the Netherlands with negative 3.4% and Estonia with negative 2.4%. On the other hand, the biggest increases were observed in Ireland and Malta with 0.5% and Finland with 0.2%.
