Eurozone Retail Sales Fall More Than Expected In October

Eurozone retail sales declined at a faster-than-expected pace in October, after rebounding in the previous month, data from Eurostat showed Tuesday.

Retail sales dropped 1.1 percent month-over-month in October, reversing September’s 0.8 percent rise, which was revised up from 0.7 percent.

Economists had expected a 0.7 percent fall for the month.

Sales of textiles, clothing and furniture declined 3.1 percent over the month and those of food, drinks and tobacco slid by 1.3 percent.

On a yearly basis, retail sales growth eased sharply to 0.4 percent in October from 4.0 percent in the previous month, revised from a 3.7 percent gain reported earlier. The growth was expected to moderate to 1.4 percent.

In the EU28, retail trade decreased 0.5 percent monthly in October, while it grew 0.9 percent from a year earlier.
Source: RTT News