💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Euro zone retail sales dragged down by German slump in December

Published 02/05/2019, 05:02 AM
Updated 02/05/2019, 05:05 AM
© Reuters. A woman passes a sale sign in a shop window in downtown Hamburg

BRUSSELS (Reuters) - Euro zone retail sales fell as expected in December as non-food sales and online purchases in particular declined, dragged down by the steepest decline in shopping in Germany in 11 years.

The European Union's statistics office, Eurostat, said on Tuesday that retail sales in the 19 countries sharing the euro were down 1.6 percent month-on-month in December, in line with the average forecast in a Reuters poll of economists.

Year-on-year, retail trade rose by 0.8 percent.

The monthly decline, which wiped out the 0.8 percent gains of October and November, reinforces the sense of an economy slowing at the close of the year.

Eurostat reported last week that the euro zone economy rose by just 0.2 percent quarter-on-quarter in the final three months of 2018, matching the four year low of the third quarter.

Economic sentiment in the zone also fell to a two-year low in January, with the steepest decline among retail managers.

In Tuesday's data, non-food sales fell by 2.7 percent from November, with declines of 2.1 percent for electrical goods and furniture, 2.9 percent for textiles and clothing and 6.1 percent for mail order and internet sales.

The steepest fall by far was in Germany, where retail sales declined by 4.3 percent month-on-month. Germany's statistics office has said the drop was compared to a very strong November, boosted by pre-Christmas shopping and discount days such as Black Friday.

In France, the euro zone's second biggest economy, retail sales fell by just 0.1 percent. In Austria, Ireland and Portugal, retail sales rose.

For Eurostat release, click on:

© Reuters. A woman passes a sale sign in a shop window in downtown Hamburg

http://ec.europa.eu/eurostat/news/news-releases

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.