The Eurostat statistics office has analyzed retail sales for the month of May and reports an increase that is even slightly higher than initially expected.
Retail sales in the euro zone rose faster than expected in May. Compared to the previous month, the seasonally adjusted revenues climbed by 4.6 percent, as the European statistical office Eurostat announced on Tuesday in Luxembourg.
Analysts had only expected an increase of 4.3 percent on average. However, the decline in April was more pronounced than previously known. Sales fell by a revised 3.9 percent, after initially a decrease of 3.1 percent had been determined.
Compared to the same month last year, sales in May rose by 9.0 percent. Analysts had expected an increase of 8.2 percent. The retail sector was badly affected by the Corona crisis in May of the previous year, albeit not as significantly as in April.
In a year-on-year comparison, sales of motor fuels in particular increased. Mail order and internet retail sales outside of the food sector also increased significantly year-on-year. However, they climbed less strongly than in the previous months, since the mail order business had already gained momentum due to the Corona crisis in May of the previous year.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
