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Euro zone retail sales stronger than expected in Sept year-on-year

Kitco News

BRUSSELS, Nov 7 (Reuters) - Euro zone retail sales rose more than expected year-on-year in September, and August data was also revised upwards, signalling continued consumer demand, especially in online shopping, despite slowing economic growth, data showed on Wednesday.

The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro were flat month-on-month for a 0.8 percent year-on-year gain. Economists polled by Reuters had expected a 0.1 percent monthly rise and a 0.7 percent annual increase.

Eurostat also revised strongly upwards August data to a 0.3 percent month-on-month rise from a 0.2 percent monthly fall and to a 2.2 percent year-on-year gain from a 1.8 percent increase.

While retail sales of shoes and clothes fell in September in monthly and annual terms, mail orders and internet purchases jumped 2.2 percent on the month and 5.2 percent year-on-year.

Euro zone economic growth slowed to 0.2 percent quarter-on-quarter in the third quarter of the year, preliminary Eurostat data showed at the end of October from 0.4 percent in the April-June period. (Reporting By Jan Strupczewski)

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