Eurozone retail sales volume fell -0.7% mom in September, reversing August’s upwardly revised 0.4% increase and missing market expectations of a -0.1% decline, according to Eurostat. The previous month’s growth was revised up from 0.1%. On an annual basis, retail sales growth slowed from an upwardly revised 1.3% to just 0.4% yoy, indicating that spending volumes were only marginally above their year-earlier level. Across the broader EU, retail sales also reversed from 0.4% growth to a 0.6% contraction, while annual growth eased from 1.7% to 0.9%.
Non-food products excluding automotive fuel accounted for the most pronounced weakness, with sales reversing from 0.6% growth to a 1.2% contraction in September. Food, drinks and tobacco sales also fell, shifting from a 0.4% increase to a 0.3% decline. In contrast, automotive fuel sales recovered from a 0.8% contraction to a 1.0% increase, partially offsetting weakness elsewhere. The annual comparison reinforced the softer picture, with non-food sales growth slowing from 2.1% to 0.7%, while food sales growth eased from 1.7% to 1.1%. The figures suggest that the deterioration was particularly pronounced in non-food purchases, rather than being evenly distributed across retail categories.
Germany recorded the sharpest monthly decline among reporting EU member states, with retail sales plunging 2.0% after a revised 1.2% increase in August. German sales were also 2.4% lower than a year earlier. Other major eurozone economies showed weaker monthly performance, with France declining 0.6% and Spain falling 0.4%, while Italy edged up 0.1%. The combination of Germany’s steep contraction and weaker sales across several other major economies points to renewed fragility in eurozone consumer demand. However, retail sales have fluctuated considerably in recent months, and the latest decline alone does not establish a sustained downturn in household spending.
Data Summary
Eurozone Retail Sales — September 2026
| Indicator | Aug | Sep |
|---|---|---|
| Eurozone retail sales, mom | +0.4% | -0.7% |
| Eurozone retail sales, yoy | +1.3% | +0.4% |
| EU retail sales, mom | +0.4% | -0.6% |
| EU retail sales, yoy | +1.7% | +0.9% |
September’s eurozone monthly decline was worse than the -0.1% consensus. August’s monthly growth was revised from +0.1% to +0.4%, while annual growth was revised from +0.8% to +1.3%.
Eurozone Retail Sales by Sector
| Sector (mom) | Aug | Sep |
|---|---|---|
| Food, drinks and tobacco | +0.4% | -0.3% |
| Non-food products, excluding automotive fuel | +0.6% | -1.2% |
| Automotive fuel | -0.8% | +1.0% |
Major Eurozone Economies
| Country | Aug (mom) | Sep (mom) | Sep (yoy) |
|---|---|---|---|
| Germany | +1.2% | -2.0% | -2.4% |
| France | +0.3% | -0.6% | +2.8% |
| Spain | +0.2% | -0.4% | -1.5% |
| Italy | 0.0% | +0.1% | -0.3% |
| Netherlands | +0.5% | -0.7% | +1.2% |
Source: Eurostat, November 6, 2026 release. Retail sales measure inflation-adjusted trade volumes.
Key Takeaways
- Eurozone retail sales fell more sharply than expected: Sales volume reversed from a revised 0.4% monthly increase to a 0.7% contraction in September, missing the -0.1% consensus by 0.6 percentage points.
- Annual sales growth slowed substantially: Retail sales growth weakened from 1.3% to just 0.4% yoy, indicating only a modest increase in spending volumes compared with September 2025.
- Non-food spending recorded the largest sectoral decline: Sales excluding automotive fuel swung from +0.6% to -1.2% mom, highlighting pronounced weakness in purchases outside essential consumer categories.
- Food sales also weakened: Food, drinks and tobacco sales declined 0.3% after rising 0.4% in August, showing that the monthly contraction was not confined to non-food goods.
- Automotive fuel provided a partial offset: Fuel sales recovered from -0.8% to +1.0% mom, but the increase was insufficient to prevent the overall retail contraction.
- Germany led the downturn: German retail sales plunged 2.0% mom after a 1.2% increase in August, the largest decline among reporting EU member states. Annual sales fell 2.4%.
- Weakness extended across other major economies: France recorded a 0.6% monthly decline, Spain fell 0.4%, and the Netherlands contracted 0.7%, while Italy managed a marginal 0.1% increase.
- The slowdown was also visible across the EU: Retail sales declined 0.6% mom, while annual growth eased from 1.7% to 0.9%.
- Consumer spending momentum remains fragile: The sharp decline in non-food sales and weakness across several major economies point to softer retail demand, although recent monthly volatility makes it premature to conclude that a sustained downturn has begun.
