Eurozone retail sales fell sharply in January

According to the report from the Eurostat, in January 2021, the seasonally adjusted volume of retail trade fell by 5.9% in the euro area and by 5.1% in the EU, compared with December 2020. Economists had expected a 1.1% decrease in the euro area. In December 2020, the retail trade volume rose by 1.8% in the euro area and by 1.4% in the EU.

In January 2021 compared with January 2020, the calendar adjusted volume of retail trade decreased by 6.4% in the euro area and by 5.4% in the EU. Economists had expected a 1.2% decrease in the euro area.

In the euro area in January 2021, compared with December 2020, the volume of retail trade decreased by 12.0% for non-food products and by 1.1% for automotive fuels, while it increased by 1.1% for food, drinks and tobacco. In the EU the volume of retail trade decreased by 9.9% for non-food products and by 0.3% for automotive fuels, while it increased by 1.0% for food, drinks and tobacco.

In the euro area in January 2021, compared with January 2020, the volume of retail trade decreased by 18.3% for automotive fuels and by 13.6% for non-food products (within this category mail orders and internet increased by 39.1%), while it increased by 5.9% for food, drinks and tobacco. In the EU, the volume of retail trade decreased by 15.7% for automotive fuels and by 11.5% for non-food products (mail orders and internet increased by 40.0%), while it increased by 5.4% for food, drinks and tobacco.