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FX.co ★ Eurozone Retail Sales Rebound Less Than Forecast

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typeContent_19130:::2022-07-06T10:10:00

Eurozone Retail Sales Rebound Less Than Forecast

Eurozone retail trade recovered at a slower-than-expected pace in May, figures from Eurostat showed on Wednesday.

Retail sales rose 0.2 percent month-over-month in May, in contrast to a revised 1.4 percent fall in April. That was below the 0.4 percent increase expected by economists.

The increase in May was driven by a 1.2 percent gain in sales of non-food products. However, mail orders and internet sales fell 0.2 percent and those of auto fuel in specialized stores also dropped the same.

Sales of food, drinks and tobacco contracted 0.3 percent in May compared to a 2.3 percent decrease seen in April.

On a yearly basis, retail sales growth eased sharply to 0.2 percent in May from 4.0 percent in April. Meanwhile, it was expected to decline by 0.4 percent.

Retail trade in the EU27 showed no variations over the month, while sales advanced 0.8 percent in May from a year ago.

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