Euro zone retail sales fall in Sept, exposing weak consumer demand
FILE PHOTO: A customer shops next to a sign reading «Anti-inflation challenge, third price cut» at a Carrefour supermarket in Montesson near Paris, France, September 13, 2023. REUTERS/Sarah Meyssonnier/File Photo
BRUSSELS (Reuters) — Euro zone retail sales fell roughly in line with expectations in September, data showed on Wednesday, highlighting weak consumer demand and the prospect of recession.
The European Union’s statistics office Eurostat said retail sales in the 20 countries sharing the euro fell 0.3% month-on-month and by 2.9% year-on-year in September.
Economists polled by Reuters had expected declines of 0.2% in the month and 3.1% from a year earlier.
The monthly fall was caused mainly by a sharp drop in sales of non-food products, including online sales, both of which fell by 1.9% from August. Automotive fuel sales were also down 0.9%.
Year-on-year, the sales of fuel also declined sharply, as did online purchases.
The euro zone economy shrank by 0.1% in the three months to September, data showed last week, and a key purchasing managers’ survey showed the fourth quarter has got off to a poor start.
For further details of Eurostat data click on: