Key facts
- Euro area retail sales fell 0.4% month-over-month in April.
- The decline was larger than the expected 0.3% drop.
- March's retail sales figure was revised higher to +0.8%.
- Non-food retail sales dropped 0.9% in April.
- Automotive fuel sales decreased by 2.7% in April.
- Food store sales increased by 0.9% in April.
Euro area retail sales experienced a decline of 0.4% in April, which was a larger decrease than the anticipated 0.3% drop. This figure follows a significant upward revision to the March number, which was adjusted to +0.8%. The downturn in April was largely influenced by a 0.9% decrease in non-food retail sales and a 2.7% drop in automotive fuel sales. The increase in March for automotive fuel sales, revised from -1.6% to +0.9%, is speculated to be linked to consumers purchasing fuel in anticipation of higher prices due to the Middle East conflict. Similar trends were observed in country-level data, such as in Germany. In contrast, food store sales saw a pickup of 0.9% in April, potentially due to households stocking up ahead of further price increases and potential shortages. The overall economic outlook will be better understood with the release of May and June figures.