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Eurozone retail sales growth exceeds estimates in November 2019

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Eurozone retail sales growth exceeds estimates in November 2019

Seasonally adjusted retail sales volume in the eurozone advanced 1.0% month over month in November 2019 following an upwardly revised 0.3% decrease in October 2019, data from Eurostat showed.

The reading exceeded the Econoday consensus estimate of a 0.6% increase for the month.

Mail orders and internet sales led the rise with a 2.7% boost, while sales of food, drinks and tobacco rose 0.7%. Purchases of textiles, clothing, footwear rose 1.4% on a monthly basis, while turnover in automotive fuels in specialized stores fell 1.0%.

On an annual basis, retail sales increased by 2.2% in calendar and seasonally adjusted terms, higher than market estimates of a 1.5% rise and an upwardly revised 1.7% increase in October.