Eurozone retail sales swing to growth in October

By Tuba Ongun

ANKARA (AA) – Eurozone retail sales returned to growth in October following a three-month of losing streak, according to data released on Wednesday.

The volume of retail trade increased 0.1% month-on-month in the euro area, below market forecast, Eurostat data showed.

The volume of retail trade dropped 1.1% for food, drinks and tobacco in October, marking the largest decline since March.

Sales of non-food products rose 0.8% from a month earlier in October, while it decreased 0.8% for automotive fuels.

On a yearly basis, retail sales in the euro area fell 1.2% in October, easing from a 2.9% annual decline in September.

The eurozone/euro area, or EA19, represents member states that use the bloc's single currency, the euro, while the EU27 includes all of its member countries.

For the EU, retail sales gained 0.3% in October compared to the previous month and decreased 0.9% from a year ago.

The largest monthly falls were in France (-1.0%), Belgium and Austria (both -0.8%), and Spain and Portugal (both -0.4%).

On the other hand, Croatia (3.1%), the Netherlands (2.4%) and Slovakia (1.9%) posted the largest monthly hikes.