EU: Retail Trade Falls In March (-0.2%) With Spain In The Lead (-4%)

Retail Eurozone

Spain was the country that suffered the biggest monthly fall in retail sales in March, with a decline of 4%. In the euro area as a whole, the contraction was 0.4% compared with the previous month, when it had risen by 0.4 percentage points. Meanwhile, in the EU as a whole it fell by 0.2%, after having risen by 0.3% in February.

The data published today by Eurostat also shows that in the euro area the volume of retail trade decreased by 2.9% for motor fuels compared with the previous month, and by 1.2% for non-food products. It increased by 0.8% for food, beverages and tobacco.

In the EU, retail trade volume decreased by 3.0% for motor fuels and by 0.7% for non-food products; however, it grew by 0.6% for food, beverages and tobacco.

These figures reflect that, in the face of the inflationary pressures of the last few months – accentuated by the war in Ukraine since end-February – consumers have reduced their spending and only trade in foodstuffs has grown.

In this context, Spain was the country where retail sales fell the most, contracting by 4%. It was followed by Luxembourg (-3.3%) and France (-1.9%) with the largest monthly falls in retail sales, according to the available data.

On the other hand, the largest increases compared to February were observed in Slovenia (+11.4%), Latvia (+11.1%), and Hungary (+7.3%).

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.