Retail trade in the Euro Area was unchanged from a month earlier in March 2019, following an upwardly revised 0.5 percent growth in February and slightly beating market expectations of a 0.1 percent drop. Increases in sales of food, drinks, tobacco (0.6 percent vs 0.1 percent in February), mail orders and internet (0.5 percent vs 0.9 percent), textiles, clothing, footwear (0.1 percent vs 2.4 percent) and electrical goods and furniture (0.1 percent vs 1.2 percent) were offset by declines in sales of pharmaceutical and medical goods (-1.8 percent vs 0.8 percent), fuel (-0.6 percent vs -0.4 percent) and computer equipment, books and other (-0.5 percent vs 0.8 percent). Year-on-year, retail trade growth eased to 1.9 percent in March from 3 percent in the previous month and slightly above market consensus of 1.8 percent. Retail Sales MoM in the Euro Area averaged 0.09 percent from 1995 until 2019, reaching an all time high of 2.80 percent in October of 1999 and a record low of -2.10 percent in May of 2011.
Retail Sales MoM in Euro Area is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales MoM in Euro Area to stand at 0.40 in 12 months time. In the long-term, the Euro Area Retail Sales MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.