2020.08.0509:21:00UTC+00Eurozone Retail Sales Growth Moderates In June

Eurozone retail sales grew at a moderate pace in June after rebounding sharply in May, data from Eurostat showed Wednesday.

Retail sales increased 5.7 percent on a monthly basis, following a 20.3 percent increase in May. Economists had forecast a 5.9 percent increase for June.

Turnover had logged double-digit contractions amid the coronavirus pandemic during March and April.

Food, drinks and tobacco turnover was down 2.7 percent, while non-food product sales advanced 12.1 percent in June. Sales of automotive fuel in specialized stores grew 20.4 percent in June.

On a yearly basis, retail sales gained unexpectedly by 1.3 percent, in contrast to a 3.1 percent drop in May. Sales were forecast to decrease 0.5 percent.

In the EU27, retail turnover grew 5.2 percent on month in June taking the annual growth to 1.3 percent.