Euro zone retail sales up slightly in October

Written by The Frontier Post

BRUSSELS (Reuters): Euro zone sales rose by slightly more than expected in October, but September data were revised downwards, with online sales providing another push to figures offering a mixed picture as overall economic growth slows.

The European Union’s statistics office Eurostat said on Wednesday that retail sales in the 19 countries sharing the euro were up 0.3 percent month-on-month for a 1.7 percent year-on-year gain.

Economists polled by Reuters had expected a 0.2 percent monthly rise and a 2.1 percent annual increase.

Eurostat also revised downwards September data to a 0.5 percent month-on-month decline from a previous flat reading and to a 0.3 percent year-on-year gain from a previous 0.8 percent increase.

Sales of non-food products were down 0.1 percent in the month after a 0.7 percent decline in September. However, mail orders and internet purchases rose 0.9 percent in the month and by 9.9 percent year-on-year.

Euro zone economic growth slowed to a four-year low of 0.2 percent quarter-on-quarter in the third quarter of 2018, Eurostat has estimated, after expansion of 0.4 percent in both the first and second quarter.

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