FX.co ★ Eurozone retail sales rise in October

The volume of retail trade rose by 1.1% in the eurozone in October 2016 after falling by 0.4% in September 2016, according to the latest estimate from Eurostat, the EU’s statistical office. This marked the fastest pace of growth since August 2014.

On a yearly basis, retail sales rose by 2.4%. The figures overshot analysts’ forecasts for a 0.8% increase and a 1.7% rise, respectively.

In the reporting period, the EU’s retail sales advanced by 1.2% from the previous month, when the indicator fell by 0.2%. From October 2015, sales rose by 3.5%.

The highest increases in the total retail trade volume were attributed to Slovenia (+3.7%), Luxembourg (+2.9%), Germany (+2.4%) and the UK (+2.0%). Decreases were recorded in Malta (-0.5%), Ireland (-0.4%), Hungary (-0.3%), Slovakia (-0.2%) and Spain (-0.1%).

Year-on-year, the highest growth was posted in Luxembourg (+16%), Romania and Slovenia (+8.7%), and Lithuania (+8.3%). Meanwhile, Belgium showed the biggest decline (-1.9%).