Euro zone retail sales fall much more than expected in Aug
© Reuters. FILE PHOTO: Shoppers carry bags as they walk along a busy shopping street looking for bargains on the weekend of second advent in Hamburg, December 3, 2022. REUTERS/Fabian Bimmer/File PhotoBRUSSELS - Euro zone retail sales fell much more than expected in August, data showed on Wednesday, pointing to weaker consumer demand as inflation remains high.
The European Union's statistics office Eurostat said retail sales in the 20 countries sharing the euro fell 1.2% month-on-month for a 21% year-on-year decline in August.The monthly fall was caused mainly by a sharp drop in mail orders and shopping on the internet which fell 4.5% and a drop in the sale of petrol, down 3.0%.
Year-on-year, the sales of fuel was even more pronounced at 7.7% and there was a 3.2% fall in the sales of food drinks and tobacco.Comment Guidelines We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
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