POST Online Media Lite Edition


Eurozone retail sales rise more than expected in October

Staff Writer |
Retail sales in the 19 countries that share the euro rose more than expected in October, according to the latest figures from Eurostat.

Article continues below

Retail sales were up 1.1% from September, beating expectations of a 0.9% increase. On the year, sales were up 2.4%, compared to a 1% jump in September.

Sales of non-food products rose 2.3%, while sales of food, drinks and tobacco were 0.2% higher. Sales of automotive fuel fell 1%.

In the EU-28 group of nations, retail sales were up 1.2% on the month and 3.5% on the year.

Pantheon Macroeconomics said this was a solid headline, boosted by strong data in Germany.

"We think the German data will be revised lower, but it won't change the story of a strong start to Q4 for the EZ consumer. Elsewhere, retail sales in Spain and France also lifted the euro area headline. Across sectors, a 2.3% month-to-month jump in non-food sales was the main driver of the October rise, offsetting a decline in spending on petrol. Food sales also rose modestly."

What to read next

Broad-based fall in eurozone retail sales in November
Retail sales in Europe rise in final month of 2016
Eurozone retail PMI drops to 14-month low in April