Euro area, EU see expansion in volume of retail trade in October

In October 2021 compared with October 2020, the calendar adjusted retail sales index increased by 1.4 per cent in the euro area and by 2.3 per cent in the EU. The euro area (EA19) includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. The European Union (EU27) includes EA19 plus Bulgaria, Czechia, Denmark, Croatia, Hungary, Poland, Romania and Sweden.

In the euro area in October 2021, compared with September 2021, the volume of retail trade increased by 1.3 per cent for automotive fuels and by 0.4 per cent non-food products. In the EU, the volume of retail trade increased by 1.3 per cent for automotive fuels, by 0.6 per cent for non-food products.

Among Member States for which data are available, the highest monthly increases in the total retail trade volume were registered in Slovenia (+13.0%), Portugal (+2.3%) and Denmark (+2.2%). The largest decreases were observed in Latvia (-5.4%), Austria (-2.8%) and Estonia (-2.6%).

In the euro area in October 2021, compared with October 2020, the volume of retail trade increased by 8.5 per cent for automotive fuels and by 2.5 per cent non-food products. In the EU, the retail trade volume increased by 9.0 per cent for automotive fuels and by 3.8 per cent for non-food products.

Among Member States for which data are available, the highest yearly increases in the total retail trade volume were registered in Slovenia (+34.3%), Poland (+12.4%) and Estonia (+11.0%). The largest decreases were observed in Germany (-2.8%), Latvia (-2.3%) and Ireland (-1.9%).

Meanwhile, according to a flash estimate from Eurostat, euro area annual inflation is expected to be 4.9 per cent in November 2021, up from 4.1 per cent in October. In terms of the main components of euro area inflation, energy is expected to have the highest annual rate in November (27.4%, compared with 23.7% in October), followed by services (2.7%, compared with 2.1% in October), non-energy industrial goods (2.4%, compared with 2.0% in October) and food, alcohol & tobacco (2.2%, compared with 1.9% in October).

Fibre2Fashion News Desk (RKS)