×
1 751
Fashion Jobs
DAVID JONES
IT Test Manager
Permanent · Melbourne
DAVID JONES
IT Infrastructure Specialist- Country Road Group
Permanent · Melbourne
FUSION SPRINGBOARD
Junior Merchandise Planner And Allocator
Permanent · Melbourne
DAVID JONES
Country Road - Cluster Manager - Pacific Fair - Qld
Permanent · Gold Coast
DAVID JONES
Project Manager- Country Road Group
Permanent · Melbourne
DAVID JONES
Merchandise Planner- Country Road Childrenswear
Permanent · Melbourne
PUMA
Field Account Manager Sports Licensing
Permanent · Moorabbin
DAVID JONES
Visual Merchandising Manager - David Jones Doncaster
Permanent · East Melbourne
DAVID JONES
Assistant Visual Merchandising Manager - David Jones Chadstone
Permanent · Melbourne
DAVID JONES
People Business Partner
Permanent · Melbourne
ON RUNNING
Warehouse Specialist / Supervisor
Permanent · MELBOURNE
DAVID JONES
CRM Email Developer - Country Road
Permanent · Melbourne
DANGERFIELD
Dangerfield Area Manager
Permanent · Perth
FUSION SPRINGBOARD
Group Finance Manager
Permanent · Melbourne
DAVID JONES
Supply Chain Analyst- Country Road Group
Permanent · Melbourne
ESTEE LAUDER
Mac - Cosmetic Consultant - Wollongong/Shellharbour - Part Time
Permanent · South Coast
JUST JEANS
Regional Manager - Just Jeans
Permanent · Christchurch
FUSION SPRINGBOARD
Area Manager - Vic
Permanent · Melbourne
JD SPORTS
Assistant Warehouse Manager (Afternoon Shift)
Permanent · Homebush
JD SPORTS
Area Manager - Qld
Permanent · Brisbane
DOTTI
Product Supply Coordinator - Dotti
Permanent · Melbourne
DAVID JONES
E-Commerce Specialist- Witchery
Permanent · Melbourne
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.