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January 18, 2018

Retail sales in the European Union increased by 1.5% in November 2017

Retail salesThe volume of retail sales in the European Union increased by 1.5% in November on month-on-month basis. Thus, the region reports a stable recovery in retail trade after sales surprisingly dropped by 0.6% in October, according to seasonally adjusted Eurostat data. In the Eurozone, the volume increase on a monthly basis is at the same level – from 1.5%, after the even-trough zone recorded an even greater 1.1% decline in October.

Compared to the same month of the previous year, there was a significant increase – the growth of sales volume in the Eurozone was 2.8% and in the EU amounted to 2.7%.

According to Eurostat, the increase in volume on a monthly basis in the Eurozone is mainly due to a 2.3% rise in non-food products, 1.2% in “Food, beverages and tobacco” and 0.3% in automotive fuels.

As for the EU as a whole, the trend is similar. The volume of non-food sales increased by 2.1%, food, beverages and tobacco by 1.2% and motor fuels by 0.3%.

Among the Member States, the largest increase in retail sales is seen in Portugal (3.9%), Slovenia (2.8%), Germany (2.3%) and Croatia. Only one country declined in retail sales – Estonia by 0.2%. Bulgaria recorded a slight growth of 0.3%, which however slowed down compared to the previous month when it was at the level of 0.6%.

The annual growth of retail sales in the Eurozone is supported by non-food products with an increase of 4.1%, of the category “Food, beverages and tobacco” by 1.6% and only 0.2% of automotive fuels. The situation in the EU as a whole is similar – the growth in non-food products remains the same, but in the category “Food, beverages and tobacco” is 1.4% and in the case of automotive fuels – 0.9%.

The most significant increase in retail sales compared to November 2016 was recorded in Romania (10.9%), Poland (7.6%) and Malta (7.0%). And here Estonia is the only country that has dropped sales – by 1.2%. In Bulgaria, the volume grew by 3.9% yoy.

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About Silvia Hristova

My name is Silvia Hristova. I am 44 year-old woman from Varna, Bulgaria, working as author and analyzes contributor of Economics Gazette Journal. I graduated in University of Economics in Varna and have long experience, as finance and business analyst in local investment funds and banks. Also has long time experience as freelance economy and finance journalist.