Eurozone Retail Sales Experience a Steady Rise

In a recent report released by Eurostat, the euro area witnessed a 0.3% increase in retail trade in February compared to January, with the European Union not far behind at a 0.2% rise. Annually, the figures are even more encouraging, showing a 2.3% growth in the Eurozone and a 2% increase across the EU.

Breaking Down the Numbers

Food, drinks, and tobacco, along with non-food products (excluding automotive fuel), saw a 0.3% monthly increase in the euro area. Meanwhile, automotive fuel in specialized stores experienced a slight uptick of 0.2%. The EU mirrored these trends with a 0.2% rise in the same categories, except for automotive fuel, which surged by 1.4%.

Regional Highlights

Cyprus emerged as the leader in retail sales growth, boasting a remarkable 4.7% increase. On the other end of the spectrum, Bulgaria faced a downturn, with sales dropping by 1.7%.