Euro area & EU's retail trade volumes increase in March 2024

On a year-over-year basis, March 2024 showed an encouraging trend with the calendar-adjusted retail sales index rising by 0.7 per cent in the euro area and by 2 per cent in the EU. Sector-specific performance indicated stability in the euro area for non-food products (excluding automotive fuel) during March 2024. In contrast, the EU saw an increase across non-food products (except automotive fuel) by 0.5 per cent, as per Eurostat.

Among the member states, Poland registered the highest monthly increase in total retail trade volume with a significant surge of 7.3 per cent, followed by Cyprus at 4.8 per cent, and Hungary at 2 per cent. Conversely, Sweden experienced the largest monthly decrease, with retail volumes falling by 1.8 per cent, followed by Malta and Austria, which saw declines of 1 per cent and 0.8 per cent, respectively.

Looking at annual changes, the euro area saw a 0.8 per cent increase in the volume of retail trade for non-food products (excluding automotive fuel), while the broader EU reported a more substantial growth of 3 per cent for the same category. Notable yearly increases among member states included Poland, which saw a dramatic 14.8 per cent rise, Luxembourg with a 10.3 per cent increase, and Croatia at 8.9 per cent. On the other hand, Belgium, Estonia, and Austria faced the steepest declines at minus 4.6 per cent, minus 2.3 per cent, and minus 2 per cent respectively.

Fibre2Fashion News Desk (DP)