Doha: Eurozone retail sales fell more than expected in July, largely reflecting a marked decline in food and motor fuel sales.

According to Qatar News Agency, Eurostat, the European Statistical Office, reported today that retail sales fell by 0.5% monthly, reversing the 0.6% increase recorded in June. Sales had been expected to fall by 0.3%.

Sales of food, beverages, and tobacco fell by 1.1%, reversing the 0.6% increase recorded in June. Meanwhile, sales of non-food products increased by only 0.2% after a 0.6% increase.

Sales of motor fuel in specialized stores fell by 1.7%, reversing the 0.8% increase recorded in the previous month.

On an annual basis, retail sales growth slowed to 2.2% in July, compared to 3.5% in June. In addition, the rate was weaker than the expected 2.4%.