BRUSSELS (Reuters) – Euro zone retail sales rose in line with expectations in September month on month and contracted less than expected year on year as August data was revised sharply higher, show statistics released by Eurostat on Tuesday.
Retail sales in the 19 countries sharing the single currency, considered a good indicator of household consumption, rose in September by 0.4% over one month and fell by 0.6% over one year, a decline significantly less pronounced than the 1.3% contraction expected by economists polled by Reuters.
The European Statistical Institute also revised August retail sales upwards, during which they were finally stable compared to July, against a drop of 0.3% previously announced, with a contraction over one year reduced to 1.4% against 2.0% previously.
The increase recorded in September compared to August was mainly driven by online purchases, which increased by 2.6% after a fall of 4.1% the previous month, the summer vacation period. Conversely, gasoline sales, which had increased by 2.1% in August, fell by 0.6% in September.
Year-on-year, sales of food, beverages and tobacco products fell 2.4% while fuel sales for automobiles rose 3.7%.
(Report Jan Strupczewski; French version Elena Vardon)
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