Eurozone Retail Sales Fell More Than Expected in April

Data showed that retail sales in the euro area fell more than expected in April, affected by a decline in sales of non-food products, but it is still much higher than it was 12 months ago when most countries were subject to strict lockdown measures linked to the pandemic.

The European Union statistics office Eurostat said retail sales in the 19 eurozone countries fell 3.1% month-on-month in April but were up 23.9% compared to the same period a year ago.

Economists polled by Reuters had forecast a monthly decline of just 1.2%, and an increase of 25.5% on an annual basis.

Eurostat said sales of non-food products, excluding motor fuels, fell 5.1% during the month, although they were 42.6% higher than in April 2020.

Auto fuel sales rose 0.4% month-on-month and 65.5% year-on-year.