Eurozone retail sales rose 0.2% mom in May, matching market expectations and pointing to continued resilience in consumer spending despite a mixed performance across retail categories. Across the broader EU, retail sales increased a stronger 0.5% mom, suggesting consumer demand remained relatively firm in several member states.
The monthly increase in the Eurozone was driven primarily by food, drinks and tobacco sales, which rose 0.6% mom. Sales of non-food products, excluding automotive fuel, also edged up 0.1% mom. However, purchases of automotive fuel fell -.5% mom, partially offsetting gains elsewhere.
Among EU member states, Cyprus recorded the strongest monthly increase in retail trade at 3.7%, followed by Luxembourg at 3.6% and Poland at 2.4%. In contrast, Estonia posted the largest decline at -2.2%, ahead of Croatia at -2.0%, while Belgium and Lithuania both recorded falls of -0.7%.
| Indicator | Latest | Market Expectation |
|---|---|---|
| Retail Sales (MoM) | 0.2% | 0.2% |
| EU Retail Sales (MoM) | 0.5% | N/A |
Retail Sales Breakdown (Eurozone)
| Eurozone Category | Monthly Change |
|---|---|
| Food, Drinks & Tobacco | 0.6% |
| Non-food Products (ex. Automotive Fuel) | 0.1% |
| Automotive Fuel | -0.5% |
Best & Worst Performing EU Member States
| Strongest Growth | MoM | Largest Declines | MoM |
|---|---|---|---|
| Cyprus | 3.7% | Estonia | -2.2% |
| Luxembourg | 3.6% | Croatia | -2.0% |
| Poland | 2.4% | Belgium | -0.7% |
| Lithuania | -0.7% |
