Eurozone retail sales push higher

7th May 2024 11:17

(Sharecast News) - Eurozone retail sales pushed higher in March, official data showed on Tuesday, beating expectations.

According to Eurostat, the European Union's statistical office, the volume of retail trade rose 0.8% in March, better than the 0.6% rise most analysts had been expecting. It also reversed February's 0.3% decline.

Across the entire EU, retail sales jumped 1.2% in March, a notable improvement on February's 0.1% uptick.

Year-on-year, sales rose 0.7% in the Eurozone and 2% in the wider bloc.

Driving the increase was sales of food, drinks and tobacco, which rose 1.2% in the Eurozone, and automotive fuel in specialised stores, up 2%.

Among member states, German retail sales jumped 1.8%, compared to February's 1.6% slide. They also rose 1.1% in France, but softened 0.6% in Spain.

Data for Italy was not available.