Euro zone retail sales ‘drop further than expected’

Euro zone retail sales dropped more than expected in April, according to research from Reuters.

The numbers were dragged down by a decline in sales of non-food products. But sales were still much higher than a year ago.

The European Union's statistics office Eurostat said retail sales in the 19 countries sharing the euro fell 3.1 per cent month-on-month in April but were

23.9 per cent higher than the same period in 2020.

Economists polled by Reuters had expected only a 1.2 per cent monthly fall and forecast a 25.5 per cent year-on-year increase.

Eurostat said sales of non-food products, excluding fuel for cars, dropped by 5.1 per cent in April. But sales were still 42.6 per cent higher than 12 months ago.

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