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Eurozone retail sales slip in June as core demand stays weak
Retail trade volume fell 0.3% month over month in June after a 0.4% rise in May, with food and non-food sales declining while fuel was the only category to rise.
Eurozone retail sales weakened in June, reinforcing concerns that household demand remains fragile even as business surveys have improved, according to Action Forex.
Retail trade volume fell 0.3% month over month after rising 0.4% in May. Across the wider EU, sales declined 0.1% month over month following 0.6% growth.
In the Eurozone, food, drinks and tobacco sales dropped 0.5% month over month, while non-food sales fell 0.4%. Automotive fuel rose 1.5% month over month, a gain that only partially offset declines in other core spending categories.
On an annual basis, retail sales were still higher, up 0.7% year over year in the Eurozone and 1.2% year over year across the EU. The report also noted softer activity could support the ECB’s patience on further tightening as policymakers weigh whether easing pipeline inflation can continue without fresh pressure from energy markets.