Clothes, furniture boost euro zone retail sales in September
Reuters
Published Nov 07, 2017 10:29
Clothes, furniture boost euro zone retail sales in September
BRUSSELS (Reuters) - A surge in sales of clothes, furniture and electrical goods boosted euro zone retail sales in September by more than expected despite a fall in motor fuel sales, pointing to rising domestic demand as the economy gathers pace.
The European Union's statistics office Eurostat said on Tuesday that retail sales in the 19 countries sharing the euro rose 0.7 percent month-on-month for a 3.7 percent year-on-year jump.
Economists polled by Reuters had expected a monthly rise of 0.6 percent and a 2.7 percent annual gain.
Eurostat also revised sharply upwards retail sales data for August to -0.1 percent month-on-month from -0.5 percent previously estimated and to a gain of 2.3 percent year-on-year from 1.2 percent.
Retail sales signal the strength of domestic demand -- a vital component of the euro zone's gross domestic product, which in the third quarter rose 0.6 percent quarter-on-quarter and 2.5 percent year-on-year, accelerating from 2.3 percent in the previous three months.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.