Economic Buzz: Eurozone retail sales down by 0.2% in February

Retail trade in the euro area declined by 0.2% in February compared to January, and the European Union observed a decrease of 0.3% in the same month, Eurostat revealed in its report on Wednesday. On an annual basis, retail sales advanced by 1.7% in both the Eurozone and the bloc.

Retail sales volumes for food, drinks, and tobacco saw a monthly decline of 0.5% in both the euro area and the EU. Meanwhile, sales of non-food products remained stable in the Eurozone, and decreased by 0.2% in the bloc. Retail sales for automotive fuel in specialized stores rose by 0.7% in the euro area and by 1% in the EU.

Countries that recorded the largest month-on-month increases were Malta, where retail sales went up by 2%, then Bulgaria with a 1% gain and Portugal and Cyprus with a 0.8% increase. On the other hand, retail sales in Lithuania and Poland declined by 2.5% and 2.4%, respectively.

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