Luxembourg City, Luxembourg (4E) – Retail turnover in the euro area surprisingly climbed in April, driven by food sales, according to data from Eurostat released Thursday.
Retail sales inched up by 0.4 percent in April month on month, after advancing 0.1 percent in March. Sales were projected to be unchanged in April. Sales of food, drinks and tobacco gained 0.4 percent, while turnover of non-food products slid 0.1 percent.
Retail turnover jumped 2.4 percent year on year, faster than the 1 percent rise recorded in March. The rate was twice the 1.2 percent growth predicted by economists.
Sales in the 28-nation European Union edged higher by 0.6 percent from March and 3.4 percent from the year-earlier month.