August saw a rise in eurozone retail sales, led by solid growth in Germany. Retailers in France also recorded an increase in sales, however their Italian counterparts recorded a fall for the eighth consecutive month.
Phil Smith, economist at IHS Markit which compiles the Eurozone Retail PMI survey, said: “Retail sector performances across the euro area remained divided in August, with sales growth in France accelerating to the highest seen for almost five years, but sales down notably again in Italy. Not forgetting Germany, the overall top performer and where sales have now risen for seven months on the bounce. Overall the data point to modest growth in consumer spending in the eurozone, which adds to the picture from the sister manufacturing and services surveys of a moderate pace of expansion in the broader economy.”
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