Eurozone and EU Retail Sales on the Rise

In a positive turn for the economy, retail trade in the euro area experienced a 0.3% growth in February compared to January, with the European Union not far behind at a 0.2% increase, according to Eurostat's latest report. Year-over-year, these figures climb to 2.3% and 2% for the Eurozone and EU, respectively, signaling a steady recovery path.

Breaking Down the Numbers

Delving deeper into the euro area's performance, the retail trade volume saw a 0.3% monthly increase for food, drinks, tobacco, and non-food products (excluding automotive fuel), while automotive fuel in specialized stores enjoyed a 0.2% rise. The EU mirrored this growth pattern, with a 0.2% increase in the same categories, except for automotive fuel in specialized stores, which surged by an impressive 1.4%.

Regional Highlights

Cyprus emerged as the standout performer with a staggering 4.7% monthly increase in retail sales, showcasing vibrant consumer activity. On the flip side, Bulgaria faced challenges, recording the most significant monthly decline of 1.7%.