7 November 2001, 14:35 EMU Snap: Aug Retail Sales +0.3% M/M, +1.8% Vs Year Ago
Aug Result: +0.3% m/m (infl, workday, seas. adj.)
+1.8% y/y (infl, workday adj.)
Jly Result: +0.3% m/m (infl, workday, seas. adj) (unrevised)
+1.5% y/y (infl, workday adj.) (revised from +1.3%)
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FRANKFURT (MktNews) - August real retail sales in the 12-nation
euro area rose by 0.3% on the month with the annual rate up 1.8% from a
rise of 1.5% in July, Eurostat announced Wednesday.
While monthly data is adjusted for inflation, seasonal factors and
the number of working days, annual data is adjusted only for inflation
and working days.
The July figures were to show an annual gain of 1.5%, up
from +1.3% previously. The monthly gain of 0.3% was unrevised.
In August, retail salso also rose by 0.3% on the month and
an annual 2.5% in the EU15.
In terms of sectors, retail trade of "food, drinks, tobacco" rose
by 1.7% on a year earlier in the euro-zone and by 2.0% in the EU15,
while the non food sector advanced by 1.5% and 1.7% respectively.
The index for "textiles, clothing and footwear" increased by 0.5%
in the euro-zone and by 2.7% in the EU15 against year-ago numbers.
Household goods gained 1.0% in the euro-zone and 2.8% in the EU15.
Many analysts are reluctant to forecast euro zone retail sales,
given the high volatility in the series and the various methodologies
used in different countries to calculate retail sales.
Of the 15 countries within the EU, Eurostat provides data in June
for only 13 - Belgium, Denmark, Germany, Spain, Ireland, Italy,
Luxembourg, the Netherlands, Austria, Portugal, Finland, Sweden and the
UK.
Compared to August 2000, the volume of retail trade rose in all
Member States for which data are available, except in Denmark, which was
unchanged, Italy, down 1.5%, and Portugal, off 3.4%). The highest growth
rates were observed in Spain, up 8.0%, Ireland up 5.9%, and the United
Kingdom, which gained by 5.5%.
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