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Eurozone monthly retail sales drop more than expected in July

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Eurozone monthly retail sales drop more than expected in July

The eurozone's retail sales volume fell 0.2% month over month in July following a 0.3% increase in June, Eurostat said.

The Econoday consensus was for sales to dip 0.1%.

Automotive fuel sales fell 0.7%, while food, drinks and tobacco sales dropped 0.6%. Sales of nonfood products ticked up 0.4%.

On an annual basis, the calendar-adjusted retail sales index rose 1.1% in July following an upwardly revised increase of 1.5% in June.