2021.05.0609:34:00UTC+00Eurozone Retail Sales Rise For Second Month

Eurozone retail sales grew for the second straight month in March, but the pace of growth weakened from February, Eurostat reported Thursday.

Retail sales rose 2.7 percent in March from February, when volume was up 4.2 percent. However, the pace of growth exceeded the economists' forecast of 1.5 percent.

Food, drinks and tobacco sales gained 1 percent and non-food product sales grew 4.6 percent. Meanwhile, sales of automotive fuel in specialized stores dropped 2.9 percent.

On a yearly basis, retail sales rebounded 12 percent, following a 1.5 percent drop in February. This was also faster than the 9.6 percent increase economists had forecast.

Retail sales in the EU27 grew 2.6 percent on month taking the annual growth to 11.6 percent in February.