Latest data released by Eurostat - 4 March 2021

  • Prior +2.0%; revised to +1.8%
  • Retail sales -6.4% vs -1.2% y/y expected
  • Prior +0.6%; revised to +0.9%

Eurozone retail sales fell sharper than expected as virus restrictions and muted winter sales led to depressed consumption activity in general to start the year.

Looking at the details, sales for food, drinks and tobacco rose by 1.1% on the month but non-food products (ex fuel) fell sharply by 12.0% on the month in January.