Data published by Eurostat indicate a slowdown in the growth rate of retail sales in both the Eurozone and the European Union. At the end of June, the volume of retail trade turnover in the Eurozone increased by 1.5% on a monthly basis after its May growth of 4.1%.
In the European Union, retail growth slowed in June to 1.2% from 4.2% in the previous month. In annual terms, retail sales in the Eurozone and the EU increased by 5% and 5.3%, respectively.
The highest monthly growth rates were observed in countries such as Ireland, Germany, and Latvia. At the same time, a drop in retail sales was recorded in Malta, as well as in Austria and Croatia.
The leaders in terms of retail growth compared to June last year were Bulgaria, Lithuania, and Slovenia. The decline in sales occurred in Luxembourg. Sales of grocery products, as well as beverages and tobacco products in the reporting month, decreased by 1.5% in the Eurozone, and by 1.1% in the European Union. At the same time, the demand for non-food products has increased. Their sales increased by 3.4% and 2.6%, respectively.