Eurostat retail data signals eurozone slowdown

Retail trade volumes remain unchanged in September, with growth falling to 0.8% over the course of the year, pointing to an economic slowdown in the eurozone.

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Source: Bloomberg

Eurozone retail volumes remained unchanged in September compared with August in the eurozone, according to official data from Eurostat.

While across the 28 EU member states, retail trade volumes declined by 0.1%.

The data adds weight to the idea that European economic growth is beginning to slow down at a time when the EU is contending with a myriad of macro-economic headwinds, including Brexit and a banking crisis in Italy.

Food and drink prop retail sales figures

In the euro area in September 2018, compared with August 2018, the volume of retail trade increased by 0.4% for food, drinks and tobacco as well as for automotive fuel, while non-food products decreased by 0.5%. In the EU28, the retail trade volume increased by 0.8% for automotive fuels and by 0.1% for foods, drinks and tobacco non-food products, while non-food products fell by 0.3%.

Among member states, the largest increases in the total retail trade volume were registered in Ireland (+2.9%), Latvia (+1.5%) and Estonia (+1.4%). The highest decreases were observed in Portugal (-1.7%), Austria (-1.0%), as well as in Belgium and the United Kingdom (both -0.8%).

In the eurozone in September 2018, compared with September 2017, the volume of retail trade increased by 1.1% for automotive fuels, by 0.9% for food, drinks and tobacco, and by 0.7% for non-food products. In the EU28, the retail trade volume increased by 2.0% for non-food products, by 1.9% for automotive fuel and by 1.0% for food, drinks and tobacco.

The highest yearly increases in the total retail trade volume were registered in Ireland (+10.2%), Lithuania (+7.9%) and Poland (+6.5%). The largest decreases were observed in Belgium (-2.2%), Spain and Austria (both -1.5%).

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