London, Tuesday, 08 November 2022
Following three consecutive months of unchanged or declining sales, the Eurozone's retail sales increased by 0.4 percent in September 2022 compared to a month earlier as consumers remained cautious in the face of rising borrowing costs, persistently high inflation, and a widening energy crisis throughout Europe.
This increase was widely anticipated by the markets. Sales of non-food items climbed by 1.0 percent (vs. 0.2 percent in August), while purchases of food, beverages, and tobacco went up by 0.4 percent. Online sales increased by 2.6 percent (vs. -4.1 percent) (vs -0.7 percent in August).
Fuel sales, meanwhile, returned to contraction territory (-0.6 percent vs 2.1 percent). Compared to the market consensus of a 1.3 percent decline, retail sales fell 0.6 percent in September on an annual basis.
(Source: EUROSTAT // Edit by: The Decision Maker – Finance editors)