According to estimates from the European Union statistics office Eurostat, retail sales declined by 3.7% per annum in June after an increase by 0.4% per annum in May (revised from +0.2%). Economists had expected a reduction by 1.7% per annum. On a monthly basis, retail sales fell by 1.2% compared with a 0.4% increase in May (revised from +0.2%). Consensus estimates suggest that sales remain unchanged. As for the EU countries, retail sales fell 1.3% on a monthly basis and by 2.8% per annum.
The data showed that the drop in retail sales in the euro zone relative to May was due to a reduction in trade in non-food products (-2.6%). Sales of automotive fuel decreased by 1.1%, while sales of food, beverages and tobacco products fell by 0.4%. In the EU, the volume of retail trade fell by 2.6% for non-food products, by 1.4% for automotive fuels and by 0.2% for food, drinks and tobacco.
The annual drop in retail sales in the euro zone was caused by a decline in trade in non-food products (-4.8%) and food, beverages and tobacco products (-3.1%). Meanwhile, sales of motor fuel increased by 2%.
As for the EU countries, the largest yearly decreases in the total retail trade volume were registered in Denmark (-9.5%), Germany and Ireland (both -8.8%) and the Netherlands (-6.1%). The highest increases were observed in Slovenia (+22.1%), Poland (+9.3%) and Cyprus (+8.4%).