Key Findings from Eurostat’s August 2024 Retail Trade Report
Eurostat, the statistical office of the European Union, has released its preliminary estimates for retail trade volume in the euro zone and the EU for August 2024.
Retail Trade Volume Comparison
In August 2024, seasonally adjusted retail trade volume rose by 0.2% in the euro zone and 0.3% in the EU compared to July 2024. Conversely, in July 2024, retail trade volume remained stable in the euro zone and grew by 0.1% in the EU.
Year-on-Year Comparison
Compared to August 2023, the calendar-adjusted retail sales index increased by 0.8% in the euro zone and 1.0% in the EU in August 2024.
Monthly Comparison by Retail Sector and Country
Within the euro zone, the volume of retail trade rose by 0.2% for food, beverages, and tobacco, while non-food products (excluding automobile fuel) increased by 0.3% in August 2024 compared to July 2024.
In the EU, the volume of retail trade rose by 0.1% for food, beverages, and tobacco, while non-food products (excluding automobile fuel) increased by 0.3%.
Regarding specific countries, the largest monthly increases in total retail trade volume were seen in Luxembourg (5.3%), Cyprus (2.2%), and Romania (1.6%). The largest decreases were observed in Denmark (-1.5%), Slovakia (-1.1%), Bulgaria, and Croatia (both -0.7%).
Year-on-Year Comparison by Retail Sector and Country
In the euro zone, retail trade volume decreased by 0.2% for food, beverages, and tobacco, while non-food products (excluding automobile fuel) increased by 1.4%. The price of automotive fuel in specialized establishments rose by 2.5% in August 2024 compared to August 2023.
In the EU, the volume of retail trade remained stable for food, beverages, and tobacco, while non-food products (excluding automobile fuel) increased by 1.7%. The price of automotive fuel in specialized establishments rose by 2.0%.
The largest year-on-year increases in total retail trade volume were seen in Luxembourg (17.3%), Romania (8.9%), Croatia, and Cyprus (both 5.7%). The largest decreases were observed in Estonia (-2.7%), Belgium (-1.7%), Denmark, and Ireland (both -1.6%).
Country-Specific Trends
Notable country-specific trends include sustained growth in retail trade volume in Spain over the past three months, with growth rates of 0.4% in June, 0.6% in July, and 0.4% in August.