Eurozone retail sales edged down more than expected in March as the Russian invasion of Ukraine eroded consumer confidence and inflation soared.
- Eurostat stated its retail trade in the 19 countries sharing the euro dropped 0.4% month-on-month in March for a 0.8% year-on-year rise.
- In March 2022, the retail sales index jumped by 0.8% in the euro area and by 1.7% in the EU compared to March 2021.
- The biggest monthly fall was for mail orders and internet purchases, falling 4.3%, as well as by 13.2% year-on-year.
- Car fuel sales were down 2.9% on the month but still came 8.3% up year-on-year. Sales of food, drinks and cigarettes increased 0.8% on the month, but were 2.5% lower than a year ago.
Spain posted the largest monthly decreases in the total retail trade volume at (-4.0%), followed by Luxembourg (-3.3%) and France (-1.9%). The highest monthly increases were posted in Slovenia, Latvia and Hungary.
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