FLIY - Euro zone retail sales continue to remain flat in May
2023-07-06 05:09:10 ET
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In Eurozone, the volume of retail trade remained unchanged for the second consecutive month in May 2023, following declines in both February and March and missing market expectations of a 0.2% increase.
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This stagnation can be attributed to households facing squeezed income due to persistently high inflation and increasing borrowing costs.
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Retail Sales in the Euro Area decreased 2.90% in May of 2023 over the same month in the previous year.
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Euro zone retail sales continue to remain flat in May