Euro area’s retail trade up by 0.8% in March ’24

Eurozone retail trade volume saw a significant increase in March 2024 according to Tuesday data by Eurostat, compared to February 2024, the seasonally adjusted retail trade volume rose by 0.8 per cent in the euro area and 1.2 per cent in the EU.

This growth comes after a slight decrease in February 2024, where retail trade volume fell by 0.3 per cent in the euro area and 0.1 per cent in the EU.

When comparing March 2024 to the same month in the previous year, the calendar-adjusted retail sales index showed an increase of 0.7 per cent in the euro area and 2.0 per cent in the EU.

In the euro area, the volume of retail trade for food, drinks, and tobacco increased by 1.2 per cent, remained stable for non-food products (excluding automotive fuel), and saw a 2.0 per cent increase for automotive fuel in specialised stores.

In the EU, the volume of retail trade increased across all sectors: 0.8 per cent for food, drinks, and tobacco, 0.5 per cent for non-food products (excluding automotive fuel), and 1.5 per cent for automotive fuel in specialised stores.

Among the Member states, Poland, Cyprus, and Hungary recorded the highest monthly increases in total retail trade volume, with increases of 7.3 per cent, 4.8 per cent, and 2.0 per cent, respectively. On the other hand, Sweden, Malta, and Austria observed the largest decreases.

On an annual basis, the volume of retail trade in the euro area increased for food, drinks, and tobacco by 1.1 per cent and for non-food products (excluding automotive fuel) by 0.8 per cent, but decreased for automotive fuel in specialised stores by 0.6 per cent.

In the EU, the volume of retail trade increased for food, drinks, and tobacco by 1.0 per cent and for non-food products (excluding automotive fuel) by 3.0 per cent, but decreased for automotive fuel in specialised stores by 0.5 per cent.

Poland, Luxembourg, and Croatia recorded the highest annual increases in total retail trade volume, with increases of 14.8 per cent, 10.3 per cent, and 8.9 per cent, respectively. Conversely, Belgium, Estonia, and Austria observed the largest decreases.

This data provides a comprehensive overview of the retail trade landscape across the EU and the euro area.