Eurostat reported that retail sales volumes in the eurozone rose 0.1% in August, reversing a 0.6% decline in July. Economists had forecast a 0.3% increase. While sales of food and non-fuel products edged higher, automotive fuel sales fell 1.9% as crude oil prices surged.
Brent crude exceeded $105 per barrel in September due to Houthi shipping attacks and Iran-related uncertainty. Consumer confidence weakened slightly in September after rising since April. Despite monthly dips, annual sales were 0.8% above the prior year.
Analysts noted resilience in services spending and auto sales, suggesting overall consumption remains robust despite the energy-price shock.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing