Eurozone retail sales fell in June due to rising inflation and declining consumer confidence among households, the European Union’s statistics agency Eurostat said Wednesday. The volume of retail sales fell 1.2% in June compared with the previous month, Eurostat said. Economists polled by the Wall Street Journal had forecast retail sales would stagnate.
Eurostat revised retail sales data for May to a 0.4% increase, instead of the 0.2% on-month rise previously estimated. Eurostat said sales decreased 2.6% for non-food products, fell 1.1% for automotive fuels and declined 0.4% for food, drinks and tobacco in June compared with May. On an on-year basis, the volume of retail sales in June was down 3.7%, Eurostat said. Eurostat also revised May’s figure. After the revision, retail sales increased 0.4% on year, instead of 0.2%. Write to Maria Martinez at [email protected]