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EuroZone retail trade grows by 0.1% in July

Retail trade volume in the euro zone grew by 0.1 percent in July compared with the previous month, the European Union's (EU) statistical bureau Eurostat said on Friday. In July, food, drinks and tobacco trade increased by 0.3% in the EuroZone month-on-month, while the non-food sector rose by 0.1 percent. The retail sales index gained 1.1 percent in the 16-nation euro area year on year. In the 27-nation EU, the volume of retail trade in July increased by 0.1 percent from June and gained 1.0 percent from the previous year. Among the EU member states for which data were available, total retail trade in July increased in nine countries and declined in 10 others compared with June. Retail sales index, a monthly measurement of all goods sold by retailers based on a sampling of retail stores is often taken as an indicator of consumer confidence.---Paul A. Ebeling, Jnr. www.livetradingnews.com