EU, euro area retail sales see minor decline in Oct, yearly growth up

The seasonally adjusted retail trade volume in the euro area and the EU (European Union) declined in October 2024 compared to September 2024, as per recent estimates from Eurostat. The euro area saw a 0.5 per cent decrease, while the EU recorded a smaller decline of 0.3 per cent. In contrast, September 2024 showed growth of 0.5 per cent in the euro area and 0.4 per cent in the EU.

In October 2024, the volume of retail trade for non-food products (excluding automotive fuel) dropped by 0.9 per cent in the euro area and 0.7 per cent in the EU.

The most significant monthly decreases in retail trade volume were recorded in Belgium, down by 1.7 per cent, Germany, down by 1.4 per cent, Denmark, and Cyprus, both down by 1.1 per cent. The highest increases were observed in Luxembourg, up by 2.4 per cent, Poland, up by 2.2 per cent, and Lithuania, up by 1.5 per cent.

Despite the monthly decline, an annual comparison with October 2023 shows growth. The calendar-adjusted retail sales index rose by 1.9 per cent in the euro area and 2.1 per cent in the EU. Non-food products (excluding automotive fuel) experienced an annual increase of 2.7 per cent in the euro area and 3.0 per cent in the EU, according to Eurostat.

The highest annual increases in the total retail trade volume were recorded in Luxembourg, up by 15.4 per cent, Romania, up by 10.2 per cent, and Croatia, up by 6.7 per cent. The largest decreases were observed in Finland, down by 2.9 per cent, Belgium, down by 2.5 per cent, and Estonia, down by 1.6 per cent.

ALCHEMPro News Desk (HU)