Euro Area and EU Retail Trade Volumes Rise in August 2024

Retail trade volumes increased in both the euro area and the EU in August 2024, according to Eurostat's first estimates. Compared to July 2024, seasonally adjusted retail trade volumes grew by 0.2% in the euro area and 0.3% in the EU. This follows stable growth in July, when the euro area showed no change, while the EU grew by 0.1%.

On an annual basis, comparing August 2024 to August 2023, the retail sales index rose by 0.8% in the euro area and by 1.0% in the EU.

Monthly Breakdown by Retail Sector

In August 2024, compared to the previous month, the euro area saw retail volume increases of 0.2% for food, drinks, and tobacco, 0.3% for non-food products (excluding automotive fuel), and a 1.1% rise in automotive fuel sales. Similarly, in the EU, food, drinks, and tobacco sales increased by 0.1%, non-food products by 0.3%, and automotive fuel by 1.0%.

Country-Specific Trends

Among EU member states, Luxembourg experienced the highest monthly retail trade increase at 5.3%, followed by Cyprus at 2.2%, and Romania at 1.6%. Conversely, the largest declines were recorded in Denmark (-1.5%), Slovakia (-1.1%), and Bulgaria and Croatia (both -0.7%).

Annual Comparison by Retail Sector

Year-on-year, from August 2023 to August 2024, retail trade in the euro area decreased slightly by 0.2% for food, drinks, and tobacco, but non-food products increased by 1.4%, and automotive fuel rose by 2.5%. In the EU, food, drinks, and tobacco sales remained stable, while non-food products grew by 1.7%, and automotive fuel sales increased by 2.0%.

Luxembourg also led the annual increases with a remarkable 17.3% rise, followed by Romania at 8.9%, and Croatia and Cyprus, both at 5.7%. Estonia, however, saw the sharpest annual decline at -2.7%, with Belgium (-1.7%) and Denmark and Ireland (both -1.6%) also experiencing drops.