Retail sales fell in the euro area

The European Statistical Office (Eurostat) has released the retail sales data for the European Union (EU) and Eurozone for February.

Accordingly, retail sales in the Eurozone decreased by 0.8 percent in February compared to January, and decreased by 3 percent compared to the same period of the previous year.

Retail sales were forecast to decline by 0.8 percent month on month and 3.5 percent year on year in February.

Retail sales in the EU fell by 0.9 percent in February compared to the previous month and by 3.1 percent compared to the same period last year.

Among EU countries, the highest decrease in retail sales in February compared to the previous month was seen in Slovenia with 10.5 percent, Hungary and Poland with 2 percent, and Sweden with 1.6 percent.

Retail sales fell 10.1 percent in Hungary, 8.5 percent in Sweden and 7 percent in Germany, on an annual basis.