Business

Eurozone retail sales fell more-than-expected in April

Retail sales in the euro zone fell much more than expected in April on falling household consumer confidence and rising inflation, the European Union’s statistics agency, Eurostat, said on Friday.

According to Eurostat, the volume of retail sales fell by 1.3% in April compared to the previous month. Economists polled by the Wall Street Journal had forecast a 0.1% rise.

Eurostat revised retail sales data for March, and after the revision, the volume of retail sales rose by 0.3%, instead of the previously estimated 0.4% month-on-month decline.

According to Eurostat, April sales fell by 2.6% for food, beverages and tobacco and by 0.7% for non-food products, while they rose by 1.9% for motor fuel.

On an annualized basis, the volume of retail sales rose 3.9% in April, according to Eurostat.

Eurostat also revised the March number. After the revision, retail sales increased by 1.6% yoy instead of 0.8%.

Write to Maria Martinez at maria.martinez@wsj.com

https://www.marketwatch.com/story/eurozone-retail-sales-fell-more-than-expected-in-april-11654249445?rss=1&siteid=rss Eurozone retail sales fell more-than-expected in April

Brian Lowry

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