Eurozone retail sales declined at the fastest pace seen so far this year in July, Eurostat reported Wednesday.

Retail sales decreased 0.6 percent month-on-month in July, in contrast to a 1.2 percent rise in June. This was the biggest fall since December 2018, when sales were down 1.2 percent.

Sales of food, drinks and tobacco dropped 0.3 percent and non-food product sales declined 1 percent in July.

On a yearly basis, retail sales growth slowed to 2.2 percent in July from 2.8 percent in June. Economists had forecast an annual growth of 2 percent.

The material has been provided by InstaForex Company –