The Strategist

Eurozone retail sales rise by 0.3% in July

09/06/2022 - 07:47

According to a news statement from the European statistical agency Eurostat, retail sales in the euro zone increased 0.3% in July compared to June.

Adam Jones
Adam Jones
DailyFX surveyed analysts who believed the number increased by 0.4%.

Retail sales in the euro region decreased 0.9 percent in July on an annualized basis. Only a 0.7% fall had been anticipated by analysts. Retail sales in the EU increased 0.3% from June to July but decreased 0.5% from year to year.

The agency also changed the June figures for the eurozone and the EU: in the eurozone, the monthly fall was changed from 1.2% to 1%, and from 1.3% to 1% in the EU. Instead of 3.7%, the euro area's annual decline in June now stands at 3.2%, and for the EU, it is now 2.4% rather than 2.8%.

In terms of annualized sales growth, Malta (+9%), Slovenia (+25%) and Poland (+7.6%) saw the highest rises in July. Luxembourg (-6.3%), Denmark (-7.7%) and Ireland (-5.6%) experienced the largest drops.