Eurozone retail trade beats forecasts, rises in September

Eurozone retail trade beats forecasts, rises in September
The retail sales index increased by 3.7% year-on-year in September 2017

Mubasher: The seasonally adjusted volume of retail trade in the Eurozone, which includes 19 countries, grew 0.7% in September, versus a drop of 0.1% in August, the Eurostat said in a report released Monday.

Meanwhile, in the European Union (EU), which includes 28 countries, the volume of retail trade was up by 0.3%.

The retail trade volume in Eurozone went beyond expectations and increased in September due to the rise in the prices of food and drinks, and tobacco by 1.3% and 0.5% for non-food products, the EU's statistical office said.

Analysts had expected the retail trade volume to increase by 0.6%.

Meanwhile, the retail sales index increased by 3.7% year-on-year in September 2017 in the Eurozone, compared to 3.5% in the EU.

Automotive fuel decreased by 0.4% in September.

By 11:21 am GMT, the euro dropped against the dollar by 0.41% to reach $1.1562. 

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Source: Mubasher

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