Eurozone July retail sales weaker than expected Reuters

© Reuters. File picture: December 15, 2020, Bonn, Germany, due to the coronavirus disease (COVID-19) outbreak, the day before Germany resumed its complete lockdown, shoppers lined up in front of a store. REUTERS/Erol Dogrudogan

Brussels (Reuters)-Eurozone retail sales in July were much lower than expected, mainly due to a sharp decline in the number of goods purchased online.

Eurostat said on Friday that retail sales in 19 countries in the Eurozone fell 2.3% in July compared with June, but it was still 3.1% higher than in July 2020.

Economists surveyed by Reuters had expected a monthly increase of 0.1% and a year-on-year increase of 4.8%.

Sales in June were slightly revised, with a month-on-month increase of 1.8%, a month-on-month increase of 1.5%, and a year-on-year increase of 5.0% to 5.4%.

Eurostat said that Internet and mail order sales fell the most in July, down 7.3%, while auto fuel sales fell 1.6%, and food sales fell 0.7%.

Nonetheless, compared with July 2020, all retail sales figures have increased, with online sales increasing 11.2%, automotive fuels increasing 0.6%, and food sales increasing 1.1%.

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