Eurozone retail sales rose by just 0.1% month-on-month in August, following a 0.6% decline in July. The result came in below expectations for a 0.2% increase and points to only a very cautious recovery in consumer demand. After a weak July, household spending stabilized somewhat, particularly outside the fuel segment, but it is still too early to speak of a broad and strong rebound in consumption.
- On an annual basis, retail sales volumes increased by 0.8% year-on-year, up from a revised 0.4% increase in July. This marks some improvement from the previous month, although the overall pace of consumption growth remains weak.
- The composition of the data was somewhat better than the headline suggested. Non-food sales excluding automotive fuel rose by 0.5% month-on-month, partially reversing July’s 1.2% decline, while sales of food, drinks and tobacco increased by 0.1%.
- The main drag came from automotive fuel sales, which fell by 1.9% month-on-month. On a yearly basis, fuel sales volumes were down 3.7%, while non-food sales rose by 1.7% and food sales increased by 1.6%.
- Performance across the largest economies was mixed. Germany rebounded by 1.3% month-on-month after a 3.2% decline in July, Spain rose by 0.3%, and Italy by 0.1%, while France recorded a 1.1% decline.
- The underlying composition was somewhat stronger than the headline figure implied. Non-food sales excluding automotive fuel increased by 0.5% month-on-month, partially recovering from July’s 1.2% drop.
- Sales of food, drinks and tobacco rose by 0.1% month-on-month, while automotive fuel remained the main drag, falling by 1.9%. On a yearly basis, fuel sales volumes were down 3.7%, while non-food sales increased by 1.7% and food sales by 1.6%.
- The picture across the largest economies was mixed. Germany rebounded by 1.3% month-on-month after a 3.2% fall in July, Spain rose by 0.3%, and Italy by 0.1%, while France posted a 1.1% decline.
Source: Eurostat
Economic Calendar: Retail Sales and Fed Speakers in Focus (06.10.2026)
Chart of the Day 🚩 EURUSD Drops to May 2025 Levels as German Industrial Production Slide (06.10.2026)
Morning Wrap: Stock Indices Rise as Bonds Extend Their Losing Streak (06.10.2026)
BREAKING: U.S. ISM PMI for services comes in below expectations🚨
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.