The Strategist

Retail sales in eurozone rise in May

07/07/2022 - 03:59

According to a news statement from the European statistical agency Eurostat, the volume of retail sales in the euro area increased in May by 0.2% over April.

Lionel Allorge
Lionel Allorge
DailyFX's poll of analysts forecasted a 0.4 percent rise.

Retail sales in the area increased 0.2 percent in May on an annualized basis. Analysts had predicted a fall of 0.4%, in comparison. Retail sales in the European Union increased 0.8 percent over the previous year and 0.2 percent in May compared to April.

The agency also updated the eurozone's data for April, changing the region's 3.9 percent annual retail sales gain in April to a 4 percent increase and the region's monthly result from a 1.3 percent decrease in April compared to March to a 1.4 percent decline. The figure for the EU continues to climb by 5% annually while declining by 1.3% month over month.

In May, annual sales of food and tobacco goods fell by 3.6 percent across the eurozone and by 2.6 percent in the EU. Retail non-food product sales rose by 2% in the EU and the eurozone on an annual basis.