Europe retail sales bounce back in August | Progresiv

Retail sales volumes across Europe reported a slight rise in Europe during August, bouncing back from a dip in July, according to the latest figures from Eurostat. Seasonally-adjusted sales rose by 0.3% month-on-month in the 19-member euro area and by 0.2% in the 28-member EU bloc, marking the second-strongest growth in those terms since March 2019. On a year-on-year basis, meanwhile, sales were up 2.1% in the euro area and by 2.5% in the EU, which was nearly in line with the July growth figures.

The growth was driven largely by demand for non-food products, sales of which were up 0.4% in the euro area and by 0.3% in the EU on month-on-month basis.  Compared to August 2018, non-food sales rose by 4.1% in the euro area and by 4.2% in the EU.

The non-food increase was led by increased volumes of pharmaceutical & medical goods, which rose by 1.6% month-on-month in the euro area and by 1.3% in the EU.  A surprising weakness was reported in the mail order & online channel, where volumes edged up just 0.3% in the euro area and declined by 0.4% in the EU. Sales of food, drinks & tobacco, meanwhile, were flat in the euro area and edged up just 0.1% month-on-month in the EU.  The results were not much better on a year-on-year basis, with euro area sales up 0.4% and EU sales up just 0.7%. (www.kamcity.com)