Downward trend for retail trade in the eurozone

Retail trade in the eurozone unexpectedly fell sharply in October. German retail trade weighed down with a setback of 1.4 percent in October compared to September.

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Downward trend for retail trade in the eurozone
Photo: Michael Probst AP/TT

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The decline for retail trade in the entire eurozone was 0.5 percent compared to the previous month, according to the statistics agency Eurostat.

In September, retail trade increased by 0.5 percent compared to the previous month.

Analysts had expected a decline in October, but only by 0.3 percent according to a compilation of forecasts made by Bloomberg.

Compared to October last year, retail trade in the eurozone increased by 1.9 percent in October this year. This can be compared to an increase of 3.0 percent in annual rate in September according to revised figures and an average forecast of an increase of 1.7 percent for October.

In the eurozone's largest economy, Germany, retail trade fell by 1.4 percent in October after an increase of 1.5 percent in September.

For the entire EU, retail trade fell by 0.3 percent in October compared to the previous month, while it was an increase of 2.1 percent in annual rate.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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