Retail sales volumes in the eurozone increased 0.1% in August from the previous month, marking a modest recovery after a 0.6% decline in July, according to Eurostat.
The result was slightly below market expectations for a 0.2% increase. July’s decline had been the largest in more than a year.
Non-Food Sales Return to Growth
Sales of non-food products excluding automotive fuel increased 0.5% in August, reversing a 1.2% decline in July.
Sales of food, drinks and tobacco also edged up 0.1%, following a 0.1% decline in the previous month.
The figures indicate that overall retail activity stabilized during August despite higher borrowing costs and elevated consumer prices.
Fuel Sales Decline
Automotive fuel sales volumes fell 1.9%, extending a 0.2% decline in July. The decrease came as higher fuel prices weighed on demand.
On an annual basis, eurozone retail sales increased 0.8% in August, compared with a 0.4% gain in July.
The latest figures show modest improvement in overall retail activity, while differences across spending categories remained significant.
