2021.03.0409:11:00UTC+00Eurozone Retail Sales Fall More Than Expected

Eurozone retail sales declined more than expected in January on weak non-food products turnover, data from Eurostat showed on Thursday.

The retail sales volume decreased 5.9 percent on month, in contrast to a 1.8 percent rise in December. Economists had forecast sales to drop moderately by 1.1 percent.

Sales of food, drinks and tobacco gained 1.1 percent, while non-food product sales were down 12 percent. Automotive fuel in specialized stores fell 1.1 percent.

Year-on-year, retail sales plunged 6.4 percent, reversing December's 0.9 percent increase. Economists had forecast sales to drop 1.2 percent.

The EU27 retail sales dropped 5.1 percent on month and decreased 5.4 percent annually in January.