Retail sales in the euro area declined in May

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According to Eurostat, in May, retail sales in the euro area dropped by 0.3% after their decline by 0.1% in April. For economists, this was a surprise, since their forecast suggested a growth rate of 0.3%. Compared to the same month last year, retail sales increased by 1.3%, slowing the rise against the growth of April by 1.8%. According to analysts, they were expected to grow by 1.6%. Sales of food products and tobacco products decreased by 0.5%. Non-food sales fell 1.3%. At the same time, purchases via the Internet grew by 2.3%. In the European Union countries, in May, retail sales decreased by 0.4% for the month and grew by 1.3% for the year. In May, the most significant drop was observed in Croatia - by 4.4%, while Portugal showed the most significant increase in retail sales, its figure increased by 1.5%.

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