Brussels, Dec. 4 (BUS): Data from Eurostat on Friday showed that retail sales in the euro zone rose in line with expectations in October as consumers spent more on non-food purchases, particularly online.
The European Union’s statistics office said retail sales, a proxy for consumer demand, in the 19 countries sharing the euro, rose 0.2% month-on-month in October, up 1.4% from a year earlier.
Economists polled by Reuters had expected increases of 0.2% and 1.2%, respectively.
With soaring energy prices and increasing infections with the coronavirus, leading to renewed restrictions, consumers are expected to become more cautious in the coming months.
A survey by the European Commission on Monday showed consumer confidence declined for the second consecutive month in November, as households were less optimistic about their intentions to make big purchases and about the overall economic situation.
Eurostat said motor fuel sales rose 1.3 percent in October, while sales of food, beverages and tobacco fell 0.1 percent. Non-food sales increased 0.4%, including a 3.2% increase in online and mail order sales.
Within the eurozone, Slovenia and Portugal recorded the largest increases, and Latvia, Austria and Estonia recorded the largest decreases.
NS