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Euro zone retail sales growth surges past expectations in Nov -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Londoners shopping at Oxford Street on December 20, 2018, London. REUTERS/Henry Nicholls

FRANKFURT, (Reuters) – Retail sales in the Eurozone soared beyond all expectations in November due to in-store purchases of non-food products, Eurostat data showed Friday. This indicates that consumers demand remained strong despite new pandemic restrictions.

The retail sales in 19 euro-zone countries rose 1% in value over the previous month. This was a strong indicator of consumer demand and defies analyst expectations that it would fall 0.5%.

Comparatively to one year ago, retail sales increased 7.8%. This is far more than the projections of 5.6%.

The month saw non-food sales rise by 1.6%, while fuel sales declined by 1.5%. This reverses their previous trend.

Spain and France, two of the larger countries in the bloc, performed better than average. Germany was slowing down retail expansion.

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