Retail sales in the eurozone are below expectations

The European Statistical Office (Eurostat) has published retail sales data for the European Union (EU) and the Eurozone for January.

Consequently, retail sales in the EU increased by 0.3 percent in January compared to the previous month and decreased by 2.2 percent compared to the same period last year.

In the euro area, retail sales increased 0.3 percent in January compared to December and decreased 2.3 percent compared to the same period a year earlier, below expectations. Retail sales were expected to rise 1 percent on-month in January and decline 1.8 percent on-year.

THE LARGEST DECLINE IN AUSTRIA

Among the EU countries, the largest decrease in retail sales in January compared to the previous month was recorded in Austria with 9.8%, Slovakia with 1.4% and Hungary with 0.6%. The largest increase was determined in the Netherlands with 4.9 percent, Luxembourg with 4.6 percent and Slovenia with 4.1 percent.

Retail sales fell 8.9 percent in Belgium, 6.8 percent in Germany and 5.8 percent in Denmark and Sweden on an annual basis. It rose 18.5 percent in Slovenia, 5.8 percent in Romania and 5.7 percent in Malta. (AA)