Retail Sales in the Eurozone Continue to Pick Up Due to Easing

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Eurozone retailer sales rose further in June, helped by further easing of the corona measures. Figures from market researcher Markit also confirmed that companies have become much busier after the phasing out of lockdowns.

 

Retail sales rose 1.5 percent in June from a month earlier, European statistics agency Eurostat reported. According to economists at ING, it is, on the one hand, a logical development that shopkeepers convert more.

After all, more and more people have been vaccinated, which means that many corona measures have been lifted or relaxed. Yet the economists, on the other hand, indicate that increasing sales was not a foregone conclusion either. The corona crisis has dealt a major economic blow, they emphasize.

According to ING, the main question for the coming period is whether the sales spurt will continue. The emergence of the Delta variant of the coronavirus seems to have had little impact on shopping behaviour so far, but that can, of course, still happen. For the time being, connoisseurs are counting on further consumption growth in the third quarter.

Markit recently reported that economic activity in the eurozone continued to grow strongly in July due to the recovery from the corona crisis and the further relaxation of the corona measures. According to the preliminary figures, it was even the most substantial growth rate in more than two decades.

Markit’s final composite Purchasing Managers’ Index, which reflects economic activity in industrials and services, has slightly revised growth downwards. But it is still the most powerful figure in years, with a score of 60.2. A reading of 50 or more indicates growth, below that, shrinkage.

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