Looking at the year-on-year figures, retail trade in the euro area decreased by 0.1 per cent compared to July 2023, whereas the EU saw a slight increase of 0.4 per cent over the same period.

The retail sector in July 2024 showed mixed performances across different categories. In the euro area, there was a 0.4 per cent rise in the sale of food, drinks, and tobacco, while non-food products (excluding automotive fuel) saw a smaller increase of 0.1 per cent. However, sales of automotive fuel in specialised stores fell by 1.0 per cent. In the broader EU, food, drinks, and tobacco sales grew by 0.5 per cent, non-food products by 0.2 per cent, and automotive fuel sales dropped by 1.4 per cent, Eurostat said in a press release.

Among individual member states, Croatia stood out with the highest monthly increase in retail trade, reporting a surge of 2.9 per cent. Austria and Slovakia also posted strong gains of 1.8 per cent, while Slovenia followed with a 1.6 per cent rise. On the other hand, Luxembourg, Romania, and Cyprus saw significant declines, with Luxembourg reporting a drop of 2.1 per cent.

When comparing annual performance, Luxembourg recorded the largest increase in retail trade, with a 10.3 per cent jump compared to July 2023. Croatia and Bulgaria also saw notable growth, with increases of 7.9 per cent and 6.8 per cent, respectively. Meanwhile, Belgium, Estonia, and Finland posted the sharpest declines, reflecting ongoing challenges in these markets.

Fibre2Fashion News Desk (KD)