Eurozone retail sales fell more than expected in February

(Sharecast News) - Retail sales in the eurozone fell by more than expected in February, according to figures released on Friday by Eurostat. The volume of retail trade was down 0.5% in the single-currency region after staying flat for the month of January, which was revised down from a 0.1% gain. The consensus estimate was for a fall of 0.4%.

Compared with February 2023, sales were down 0.7%, compared with a revised 0.9% annual decline in January.

Eurostat said food, drink and tobacco sales were down 0.4% over the month of February, while non-food products declined 0.2% and automotive fuel sales dropped 1.4%.

Among member states, the largest monthly retail sales declines were recorded in Germany (-1.9%), Belgium (-1.8%) and Cyprus (-1.1%), while the strongest growth was seen in Poland (+1.4%), Croatia (+1.2%) and Estonia (+1.0%).