×
2 119
Fashion Jobs
TJX CANADA
Loss Prevention Customer Service Agent (Uniformed Guard), Scarborough
CDI · Toronto
ESTEE LAUDER
Associate Consultant - Clinique - Medicine Hat, ab
CDI · Medicine Hat
ESTEE LAUDER
Associate Consultant - Clinique - Calgary, ab
CDI · Calgary
LULULEMON
Assistant Manager, Operations | Regent Mall, Fredericton
CDI · Fredericton
LEVI'S
Levi's Sales And Merchandising Supervisor, Part-Time, Toronto Eaton Centre, Toronto, on-2
CDI · Toronto
ADIDAS
Senior Manager Accounting
CDI · Vaughan
ESTEE LAUDER
Associate Consultant - Clinique - Toronto, on
CDI · Toronto
LEVI'S
Levi's Sales And Merchandising Supervisor, Full-Time, Toronto Eaton Centre, Toronto, on-2
CDI · Toronto
WINNERS
Merchandise Sales Coordinator- Winners Homesense North Oakville 367
CDI · Oakville
NORDSTROM
Asset Protection - Agent - Deerfoot Meadows Rack
CDI · Calgary
NORDSTROM
Asset Protection - Agent - Yorkdale
CDI · Toronto
ADIDAS
Demand Planner
CDI · Vaughan
FOOT LOCKER
Assistant Operations Manager
CDI · Toronto
ESTEE LAUDER
Keyholder - The Cosmetics Company Store- 28 Hrs - Premium Outlet - Edmonton, ab
CDI · Edmonton
LULULEMON
Assistant Manager, Operations | Prairie Mall
CDI · Grande Prairie
LULULEMON
Assistant Manager, Operations | Spring Garden rd
CDI · Halifax Regional Municipality
TAPESTRY
General Manager
CDI · Toronto
TJX CANADA
Loss Prevention Store Investigator -Ottawa
CDI · Ottawa
TJX CANADA
Loss Prevention Systems Remote Investigator
CDI · Mississauga
MARC JACOB'S
Sales Supervisor
CDI · Toronto
MARC JACOB'S
Sales Supervisor
CDI · Toronto
ON RUNNING
Sales Representative
CDI · VANCOUVER
Ads
By
Reuters API
Published
Aug 3, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Eurozone retail sales drop more than expected in June as prices rise

By
Reuters API
Published
Aug 3, 2022

Eurozone retail sales plunged more than expected in June as prices at factory gates continued to rise, data showed on Wednesday, signalling a weakness in consumer demand that could herald a recession in the second half of the year.


Reuters



The European Union's statistics office Eurostat said the volume of retail sales in the 19 countries sharing the euro, already adjusted for inflation, fell 1.2% month-on-month in June for a 3.7% year-on-year decline. Economists polled by Reuters had expected unchanged monthly sales and only a 1.7% annual fall.

The drop in retail sales, a proxy for consumer demand, comes as producer prices rose 1.1% month-on-month in June for a 35.8% year-on-year surge, Eurostat said, signalling more upward pressure on consumer inflation and downward pressure on demand.

While the eurozone economy grew more than expected in the second quarter, economists said the expansion was likely to have been the last hurrah before a likely recession in the second half of the year.

They said the economy would suffer because of the surging prices, fuelled mainly by high energy costs caused by Russia's invasion of Ukraine, and global supply chain problems.

Eurostat data showed that energy prices in June were almost double compared to 12 months earlier, but even if they were excluded, producer prices were still 15.6% higher year-on-year in June, a rise that is bound to affect consumers' purchasing power.

The biggest drop in retail demand was for non-food products, especially via mail order and the internet where they plunged 12.5% year-on-year, Eurostat said.

Germany, Europe's biggest economy, showed the steepest drop in retail sales of 8.8% year-on-year, with the third biggest Italy also showing a decline of 2.8% in annual terms. Second biggest France still managed a 0.6% year-on-year rise.

Retail sales also dropped 6.1% year-on-year in the Netherlands, 4.8% in Austria, 8.8% in Ireland and 4.5% in Finland.

© Thomson Reuters 2022 All rights reserved.