Economic Buzz: Eurozone retail sales down by 0.6% in July

Retail trade in the Eurozone fell 0.6% in July compared to the month before, the European Commission's statistical office Eurostat revealed in its report published on Friday. In the European Union, it went down by 0.4%. On an annual basis, the figure advanced by 0.6% in the euro area and 1% in the EU.

Month-over-month, the Eurozone saw a decline of 1.4% in retail sales of non-food products, while sales of automotive fuel in specialized stores declined by 0.8%. Meanwhile, the sales of food, drinks, and tobacco rose by 0.4%. In the EU, retail trade in automotive fuel in specialized stores and in non-food products both decreased by 1.1%. The figure for food, drinks, and tobacco was up by 0.3%.

The largest monthly declines were seen in Germany, where retail sales dropped 3.4% in July, and in Spain, where retail trade decreased by 0.9%.

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