Euro zone retail sales dragged down by German slump in December

The European Union’s statistics office, Eurostat, said on Tuesday that retail sales in the 19 countries sharing the euro were down 1.6 percent month-on-month in December, in line with the average forecast in a Reuters poll of economists.Year-on-year, retail trade rose by 0.8 percent.The monthly decline, which wiped out the 0.8 percent gains of October and November, reinforces the sense of an economy slowing at the close of the year.

Eurostat reported last week that the euro zone economy rose by just 0.2 percent quarter-on-quarter in the final three months of 2018, matching the four year low of the third quarter.Economic sentiment in the zone also fell to a two-year low in January, with the steepest decline among retail managers.In Tuesday’s data, non-food sales fell by 2.7 percent from November, with declines of 2.1 percent for electrical goods and furniture, 2.9 percent for textiles and clothing and 6.1 percent for mail order and internet sales.The steepest fall by far was in Germany, where retail sales declined by 4.3 percent month-on-month. Germany’s statistics office has said the drop was compared to a very strong November, boosted by pre-Christmas shopping and discount days such as Black Friday.In France, the euro zone’s second biggest economy, retail sales fell by just 0.1 percent. In Austria, Ireland and Portugal, retail sales rose.

Related Posts

Amazon’s use of merchant data under EU microscope

The comments by European Competition Commissioner Margrethe Vestager come as the world’s largest online retailer faces calls for more regulatory intervention and even its potential break-up because…

At European level, the creative industries are mobilising to tackle sustainability issues

It was an opportunity for the industry to reaffirm its unity through the EFA, an alliance founded in 2022, which set up a legal entity in Berlin…

Gen Z fashion students want to be their own boss on graduation

 According to a new report by the Fashion Retail Academy, its survey for Fashioning The Future showed 51% of students expressing an interest in setting up their own business after…

G-beauty, C-beauty, T-beauty- Beauty takes on the world, and the alphabet

If K-beauty still clearly rules supreme when it comes to skincare, social networks have seen the emergence of new trends from the four corners of the globe…

India warns foreign e-commerce firms like Amazon, Flipkart over discounts

Commerce Minister Piyush Goyal has said that while the government was prepared to listen to concerns about its new foreign direct investment rules (FDI), it was committed…

Higher UK tax for e-tailers could boost high streets says expert

But while as many analysts disagree about this approach as think it would be a good idea, one heavyweight voice has been added to the pro camp…