ANKARA
Euro area retail sales dropped worse than economists’ estimates in April, according to data released on Thursday.
The volume of retail trade decreased 0.5% month-on-month in the eurozone in April, swinging from March’s 0.7% hike, Eurostat data showed.
The market expected the figure to decrease by 0.2% from the prior month.
Sales volumes dropped 2.2% for automotive fuels, 0.5% for food, drinks, and tobacco, and 0.1% for non-food products.
On an annual basis, retail sales in the euro area posted 0% growth in April.
The eurozone/euro area, or EA19, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.
For the EU, retail sales went up 0.6% on a monthly basis and 0.1% at an annual pace in April.
The largest month-on-month hikes in the total retail trade volume were registered in Slovakia (2.4%), Bulgaria and Austria (both 1.9%), and Portugal (1.7%).
Meanwhile, Latvia (down 3.3%), Greek Cypriot administration of Southern Cyprus (down 3.1%), and Denmark (down 2.7%) saw the largest monthly declines.
