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2026-01-09 18:06:46
[Eurozone Retail Sales Show Moderate Recovery, Year-on-Year Growth Rebounds, Non-Food Consumption Leads the Way] ⑴ Eurozone retail sales data for November showed a year-on-year growth rate of 2.3%, accelerating from 1.9% in October, indicating a moderate recovery in consumption. ⑵ On a month-on-month basis, seasonally adjusted retail sales grew by 0.2% in November, the same as in October, maintaining expansion for two consecutive months. ⑶ Detailed data showed that non-food products (excluding motor fuel) performed the strongest, with a year-on-year increase of 3.5% in November, making it the main driver of overall growth. ⑷ In contrast, sales of food, beverages, and tobacco grew by only 1.1% year-on-year, and motor fuel sales grew by 1.1% year-on-year, showing relatively moderate growth. ⑸ Looking at the EU as a whole, its retail sales trend is largely consistent with the Eurozone, with a year-on-year increase of 2.3% in November, with non-food products again leading the growth. (6) Data shows that, against the backdrop of potentially easing inflationary pressures, consumer demand for non-essential goods has recovered somewhat, but overall consumption growth momentum remains moderate and has not yet shown a strong expansion trend.
