Retail Sales in the Eurozone Decreased in September

Retail Sales Data for the Eurozone Released

The European Statistical Office (Eurostat) has announced the retail sales data for the Eurozone and the European Union (EU) for September 2023. According to the data, retail sales within the EU remained unchanged in September compared to August, while there was an annual increase of 1.3 percent.

Monthly Decline and Annual Increase in the Eurozone

On the other hand, in the Eurozone, retail sales decreased by 0.1 percent month-on-month in September, but still showed an annual increase of 1 percent. Market forecasts for this period had indicated a 0.2 percent monthly and a 1 percent annual increase.

Significant Differences Among Countries

The highest monthly increase was recorded in Luxembourg and Malta at 1.7 percent, followed by Estonia at 1.5 percent and Slovakia at 1.4 percent. Other countries that did not experience a decline include Lithuania at 1.1 percent, Latvia and Slovenia at 0.7 percent, while Italy saw a decline of 0.6 percent.

Countries Standout on Annual Basis

In September, the countries with the highest annual retail sales increases were led by the Turkish Republic of Northern Cyprus at 8.5 percent, followed by Malta at 6.6 percent and Bulgaria at 5.7 percent. Conversely, the largest declines were observed in Italy at 2.3 percent, Romania at 2.1 percent, Belgium at 0.8 percent, and Austria at 0.1 percent.