Eurozone retail sales unexpectedly fell in July

According to the report from Eurostat, in July 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the seasonally adjusted volume of retail trade decreased by 1.3% in the euro area and by 0.8% in the EU, compared with June 2020. Economists had expected a 1.5% increase in the euro area. In June 2020, the retail trade volume increased by 5.3% in the euro area and by 5.1% in the EU. In July 2020 compared with July 2019, the calendar adjusted retail sales index increased by 0.4% in the euro area and by 0.7% in the EU.

In the euro area in July 2020, compared with June 2020, the volume of retail trade decreased by 2.9% for non-food products, remained unchanged for food, drinks and tobacco and increased by 4.3% for automotive fuels. In the EU, the volume of retail trade decreased by 2.3% for non-food products while it increased by 0.1% for food, drinks and tobacco and by 4.6% for automotive fuels.

In the euro area in July 2020, compared with July 2019, the volume of retail trade increased by 1.5% for food, drinks and tobacco and by 0.5% for non-food products while automotive fuel decreased by 10.8%. In the EU, the retail trade volume increased by 1.5% for non food products and by 1.1% for food, drinks and tobacco while automotive fuels decreased by 9.6%.