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Euro zone retail trade weaker than expected in Aug as food sales fall By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – A facemask-wearing man shops in a Madrid market, Spain on May 31, 2021. REUTERS/Susana Vera

BRUSSELS, (Reuters) – Eurozone retail sales fell in August than anticipated, according to data released Wednesday by Datalink. This was due to consumers cutting back on their spending on food and drinks, tobacco, and other items.

The retail sales in 19 euro-zone countries, which are a proxy of consumer demand, increased 0.3% in August, and were stable from last year, Eurostat, the statistics office of the European Union, stated.

Reuters polled economists and they expected a 0.8% increase in monthly growth, as well as a 0.4% annual rise.

Eurostat stated that sales of food, tobacco, and drinks fell by 1.7% month over month and 1.9% year over year, which held down the overall index even as sales through mail order soared.

These sales have been very strong ever since the outbreak of the pandemic. They rose 9.0% in July, after 2 months of declining, and they were 8.5% higher than a year ago.

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