Sales in the eurozone rose in November more than expected, consumers bought more clothes and equipment, official data showed, this was another positive sign of the growth of the regional economy in the last quarter
Retail sales increased by 0.6 percent on a monthly basis, which is much higher than the growth forecast by 0.1 percent; on an annualized basis, retail trade grew by 1.1 percent. Eurostat also revised upward data for October - 0.6 percent compared with the previous month and 2.3 percent on an annualized basis instead of 0.3 percent and 2.3 percent, respectively. The data indicate a stronger economic growth in the last quarter. Prior to the publication of data on retail sales, the dismal mood of purchasing managers in December led some economists to predict weak growth.
The retail trade in November received an impetus due to the high demand for clothing and footwear, whose sales grew by 2.7 percent over the month. Electronics sales also rose, by 1.5 percent compared with the previous month. At the same time, a decline of 0.9 percent in sales of beverages, food, and tobacco was recorded.
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