In a year-on-year comparison, November 2023 saw a more pronounced decline. The calendar-adjusted retail sales index fell by 1.1 per cent in the euro area and by 1 per cent in the EU when compared with November 2022.

A sector-specific analysis for November 2023 shows that the volume of retail trade for non-food products decreased by 0.4 per cent in the euro area and by 0.3 per cent in the EU, compared with October 2023, as per Eurostat.

The data also revealed significant variations among EU member states. Germany experienced the largest monthly decrease in total retail trade volume, dropping by 2.5 per cent, followed by Luxembourg and Austria, with decreases of 1.4 per cent and 0.7 per cent, respectively. On the other hand, Portugal saw the highest increase at 3.1 per cent, with Croatia, Slovenia, Malta, and Romania also experiencing notable growth.

In a year-on-year comparison within the euro area for November 2023, the volume of retail trade for non-food products decreased slightly by 0.2 per cent. Similarly, the EU recorded a 0.2 per cent decrease in the same category.

Among the Member States, Slovenia recorded the largest annual decrease in total retail trade volume, with a significant drop of 11.1 per cent. Estonia and Hungary also saw substantial decreases of 8.8 per cent and 5.4 per cent, respectively. Conversely, Spain led the pack with the highest increase in retail trade volume, registering a 6.8 per cent rise, followed closely by Croatia and Denmark with increases of 6.4 per cent and 6.3 per cent, respectively.

Fibre2Fashion News Desk (DP)