04.06.202009:32:00UTC+00Eurozone Retail Sales Fall Sharply For Second Month

Eurozone retail sales declined sharply for the second straight month in April as coronavirus containment measures weighed on consumer spending, data from Eurostat showed Thursday.

Retail sales decreased 11.7 percent month-on-month, following an 11.1 percent drop in March. Economists had forecast a monthly decrease of 15 percent. This was the second consecutive fall in sales volume.

Sales of food, drinks and tobacco were down 5.5 percent. At the same time, automotive fuel sales decreased 27.7 percent and non-food product sales plunged 17 percent largely reflecting weak clothing and footwear sales.

On a yearly basis, retail sales volume was down 19.6 percent after declining 8.8 percent a month ago. Sales were expected to fall 22.3 percent in April.

In the EU27, retail sales volume decreased 11.1 percent from the previous month and declined 18 percent on a yearly basis in April.