Eurozone Retail Sales Edge Higher in November

Eurozone retail sales fell by 0.5% month on month in December 2025, reversing a downwardly revised 0.1% increase in November and undershooting market expectations for a 0.2% decline. The weakness was led by non-food retailing, where sales dropped 1.2%, the steepest fall since September 2023, ending a three-month run of gains. Fuel sales were unchanged for a second consecutive month, while sales of food, drinks and tobacco edged up by 0.1%, following a 0.4% decline in November. Among the region’s largest economies, retail activity contracted notably in France (-1.4%), Spain (-0.9%) and Italy (-0.5%), while Germany recorded a modest increase of 0.1%. On an annual basis, retail sales growth slowed sharply to 1.3% in December, down from 2.4% in November and below the 1.6% consensus forecast, underscoring a loss of consumer momentum toward year-end.

Eurozone retail sales rose by 0.2% month over month in November 2025, following an upwardly revised 0.3% increase in October and slightly outperforming market expectations for a 0.1% gain. Non-food product sales drove the expansion, advancing 0.4% for a second consecutive month. In contrast, sales of food, drinks, and tobacco declined by 0.2% after a 0.5% rise in October, while fuel sales slipped 0.1% following a 0.4% increase. Among the euro area’s largest economies, growth in retail trade in Spain (1.0%), France (0.5%), the Netherlands (0.6%), and Italy (0.3%) more than offset a contraction in Germany, where sales fell 0.6%. On an annual basis, eurozone retail sales growth accelerated to 2.3% in November, up from a revised 1.9% in October and well above market expectations of 1.6%.

Eurozone retail sales were flat in October 2025, following a modestly revised 0.1% increase in September and falling short of expectations for a 0.1% rise. Gains in food, drinks and tobacco sales (+0.3% vs. –0.2% in September) and automotive fuel (+0.3% vs. 0.0%) were offset by weaker non-food purchases, which slipped 0.2% after holding steady a month earlier. On an annual basis, however, retail activity showed more momentum: sales rose 1.5%, up from 1.2% in September and slightly above the expected 1.3% increase.