Retail Sales MoM (Eurozone)

Event Date: Wednesday, November 8, 2023
Event Time: 10:00 CET

Sales to Remain Negative in Europe

Updated Monday, November 6, 2023
In 2020, retail sales showed some volatile numbers which have continued until the end of the year. Sales remained volatile until March, when they posted a massive 11.2% decline due to the lockdown. In April, sales were expected to decline further, by 18%, but the decline was smaller at -11.7%. In May they surged 17.8% higher as the continent reopened, while in June the increase slowed to 5.7%. But, sales turned negative in July, declining by 1.3%, which shows another slowdown in the economy. They increased in August by 4.4%, but as coronavirus restrictions increase again they turned negative and fell by 2.0% in September. The same volatility has continued, as they posted a 2% increase in December but a 5.9% decline in January 2021. They have been mostly negative although we saw a 1.2% decline last month, while this month is expected at -0.2%

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About Retail Sales MoM (Eurozone)
Change in the total value of inflation-adjusted sales at the retail level. Released monthly, about 35 days after the month ends. Tends to have a relatively muted impact because Germany and France, which account for about half of the Eurozone's economy, release earlier consumer spending data. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
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