Economic Buzz: Eurozone retail sales down by 0.1% in March

Retail trade in the euro area declined by 0.1% in March compared to February, and the European Union observed an increase of 0.3% in the same month, Eurostat revealed in its report on Thursday. On an annual basis, retail sales advanced by 1.2% in the Eurozone and by 1.9% in the bloc.

Retail sales volumes for food, drinks, and tobacco saw a monthly decline of 0.3% in the euro area and one of 0.1% in the EU. Meanwhile, sales of non-food products rose by 0.6% in the Eurozone, and by 1% in the bloc. Retail sales for automotive fuel in specialized stores slumped by 1.6% in the euro area and by 0.8% in the EU.

Countries that recorded the largest month-on-month increases were Slovenia, where retail sales went up by 4.3%, then Luxembourg with a 4% gain and Belgium, with a 3.6% increase. On the other hand, retail sales in Germany and Malta declined by 2.1% and 0.4%, respectively.

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