Eurozone retail sales were lower than expected in April, dropping by 1.3% in April due to reduced purchases of food, drinks and tobacco.
- The eurostat stated that the volume of retail sales in the 19 countries sharing the euro dropped 1.3% month-on-month in April for a 3.9% year-on-year jump.
- Retail sales had increased in the first three months of the year. Sales of food, drinks and tobacco dropped 2.6% on the month as non-food products were lower by 0.7%.
- The decline in retail sales in the euro area was largely marked in Germany where sales plunged 5.4% during the month.
From a year ago, Slovenia and Malta posted the sharpest increases and Finland, Luxembourg and Belgium reported the largest decreases.
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