Eurozone Retail Sales YoY: -2% (Forecast -1.7%, Previous -0.9%)


Euro zone retail sales fell in August, data showed on Thursday, pointing to a weakness in consumer demand and underlining expectations of an approaching recession.

Eurozone Retail Sales YoY: -2% (Forecast -1.7%, Previous -0.9%)

The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro fell 0.3% month-on-month for a 2.0% year-on-year drop.

Economists polled by Reuters had expected a 0.4% monthly fall and a 1.7% year-on-year decline.

The fall in retail sales, seen as a proxy for consumer demand, underlines economists’ expectations that the euro zone is likely to go in to a recession in the coming quarters, hit by the energy price shock created by the Russian invasion of Ukraine

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