EU retail trade sees modest growth in July 2024

Across specific sectors, the euro area witnessed a 0.4 per cent rise in sales of food, drinks, and tobacco, alongside a 0.1 per cent uptick in non-food products (excluding automotive fuel). Conversely, automotive fuel sales in specialised stores fell by 1.0 per cent. Similar trends were observed in the EU, with food, drinks, and tobacco sales increasing by 0.5 per cent and non-food product sales rising by 0.2 per cent. However, automotive fuel sales dropped more sharply, by 1.4 per cent.

Significant variations were recorded among individual member states. Croatia led the way with a monthly increase in retail trade volume of 2.9 per cent, followed by Austria and Slovakia, both up by 1.8 per cent. Luxembourg, on the other hand, experienced the sharpest decline, with a 2.1 per cent fall in retail activity, while Romania and Cyprus also posted significant drops of 1.8 per cent and 1.1 per cent, respectively.

In year-on-year comparisons, Luxembourg recorded the highest growth in retail trade volume at 10.3 per cent, followed by Croatia at 7.9 per cent and Bulgaria at 6.8 per cent. On the downside, Belgium saw the steepest annual decline at 4.4 per cent, with Estonia and Finland also experiencing drops of 3.1 per cent and 2.1 per cent, respectively.

Fibre2Fashion News Desk (KD)