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Euro zone retail trade weaker than expected as food sales fall -Breaking

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© Reuters. FILE PHOTO: Folks stroll previous a retailer within the pedestrian zone in Munich, Germany, December 6, 2021. REUTERS/Lukas Barth/File Picture

BRUSSELS (Reuters) – Euro zone retail gross sales had been a lot weaker than anticipated in April, information confirmed on Friday, pulled down by principally by decreased purchases of meals, drinks and tobacco.

The EU’s statistics workplace mentioned the amount of retail gross sales within the 19 international locations sharing the euro fell 1.3% month-on-month in April for a 3.9% year-on-year enhance. Economists polled by Reuters had anticipated a 0.3 month-to-month rise and a 5.4 year-on-year acquire.

Retail gross sales had risen within the first three months of the yr.

Eurostat mentioned gross sales of meals, drinks and tobacco fell 2.6% on the month, whereas non-food merchandise had been down 0.7%, regardless of a 3.4% enhance in on-line and mail order gross sales. Motor gasoline gross sales rose 1.9%.

The decline was notably marked in Germany, the euro zone’s largest economic system, the place gross sales dropped 5.4% in the course of the month. Slovenia and Latvia had been additionally weak, whereas gross sales in Spain, Luxembourg, Eire and Malta gained.

From a yr earlier, Slovenia and Malta registered the sharpest positive aspects and Finland, Luxembourg and Belgium the steepest declines.

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