Eurozone retail sales rise more than expected in September

Michele Maatouk WebFG News | 07 Nov, 2017 10:44 - Updated: 11:10 | | |

European Central Bank, ECB, euro, eurozone, single currency

Eurozone retail sales rose more than expected in September, according to data released by Eurostat on Tuesday.

Retail sales were up 0.7% on the month versus expectations for a 0.6% increase and compared to a 0.1% drop in August. Sales of food, drinks and tobacco rose 1.3%, while sales of non-food products were up 0.5% and automotive fuel sales fell by 0.4%.

On the year, retail sales in the bloc were up 3.7%, ahead of expectations for a 2.7% jump and the previous month’s 2.3% gain. Sales of non-food products were up 5.1%, while food, drinks and tobacco sales increased 2.3%, but automotive fuel sales declined 0.6%.

In the EU-28 group of nations, retail sales were up 0.3% on the month and 3.5% on the year.

Capital Economics said: "Looking ahead, the strength of consumer confidence bodes well for retail sales and overall household spending. In October, the EC’s consumer confidence index reached its highest level since early 2001 and
is consistent on the basis of past form with annual retail sales growth continuing at about 4%. Admittedly, we doubt that this pace of growth will be sustained for an extended period. But we think that a gradual pick-up in wage growth means that consumer spending should continue to expand at a decent pace."

More news

17 Nov Europe close: Stocks slip going into the weekend

Stocks reversed early gains as investors opted to play it safe going into the weekend and the euro edged a tad higher on the back of the political gyrations on Capitol Hill.

17 Nov Europe open: Stocks start slightly higher, analysts wary

Stocks have started the morning trading slightly higher, tracking overnight gains on Wall Street but analysts are worried about buying into Thursday's bounce.

17 Nov London close: Stocks finish week on down note

London's top flight index slipped on Friday, but managed to finish well-off its lows of the session despite renewed Brexit angst as the pound gave back early gains.

17 Nov Kingfisher gets RBC upgrade as 'reasons to be cheerful' in France

DIY retailer Kingfisher has more "reasons to be cheerful" thanks to an improving French outlook, analysts at RBC Capital Markets said on Friday, while clothes seller Supergroup remains "compelling" but its shares have gained a lot in recent weeks.

17 Nov NAV on the rise as Alpha Real Estate Trust turns focus to build-to-rent market

Real estate investment group Alpha Real Trust saw its net asset value (NAV) rise in its first half of trading as it moved to make further investments in build-to-rent projects.

17 Nov Pacific Industrial & Logistics completes sale of Bedford asset

Industrial and logistics-focussed real estate investment trust Pacific Industrial & Logistics has completed the sale of an asset located at Hammond Road, Bedford, for a total consideration of £5.8m, it announced on Friday.

17 Nov DP Poland cuts ribbon on 50th Polish Domino's store

DP Poland, which holds the exclusive master franchise for the Domino’s Pizza brand in Poland, celebrated the opening of its 50th location in the country on Friday.

17 Nov Mercia Technologies makes new investment into Aston EyeTech

National investment group Mercia Technologies has made a new direct investment into Aston EyeTech - a spinout from Aston University, Birmingham - which has developed a range of proprietary hardware and software products in ocular care, it announced on Friday.

17 Nov SimiGon receives final approval for $2m Israeli Air Force order

Modelling, simulation and training solutions provider SimiGon has now received final regulatory approval for a $2m purchase order received from the Israeli Air Force, initially announced on 20 June 2016, it confirmed on Friday.

17 Nov Agriterra losses grow after 'subdued' interest in corn products

Agricultural investment group Agriterra saw losses widen in the first half of its trading year as subdued demand for its maize flour products slashed revenues by more than a third.