Eurozone retail sales slip -0.1% mom in January as non-food spending weakens

Eurozone retail sales slipped -0.1% mom in January, falling short of expectations for a 0.2% increase.  Looking at the breakdown, spending on food, drinks and tobacco rose 0.3%, providing the only notable source of support. However, this was more than offset by declines in other categories.

Non-food retail sales (excluding fuel) dropped -0.2% in Eurozone, while automotive fuel sales fell sharply by -1.1%, reflecting both weaker mobility demand and softer energy consumption after the holiday period.

Across the broader EU, retail sales also declined -0.1% mom. The strongest increases were recorded in Estonia (+4.4%), Latvia (+2.8%), and Portugal (+2.0%), while the steepest declines were seen in Slovakia (-3.5%), Slovenia (-1.9%), and Croatia (-1.3%).

Full Eurozone retail sales release here.

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