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EZ JAN RET SALES -5.9% M/M, -6.4% Y/Y; DEC +1.8% M/M
- M/M retail sales plunged by 5.9% in Dec, coming in weaker than markets expected (BBG: -1.5%), while y/y sales dropped to -6.4% after ticking up by 0.9% in the previous month.
- Monthly sales declined to the lowest level since April as many European countries tightened their restrictions after Christmas.
- Jan's decrease was mainly driven by non-food product sales which plummeted by 12.0% following a 1.0% uptick in Dec.
- Food, drinks and tobacco sales slowed to 1.1% on a monthly basis after rising by 2.3% in the previous month.
- Automotive fuel sales dropped to -1.1% in Jan, following a strong rise of 4.7% in Dec.
- Among the member states, the largest m/m drops were observed in Austria (-16.6%), Ireland (-15.7%) and Slovakia (-11.1%), while the biggest increases were registered in Estonia (+1.7%), Slovenia (+1.3%) and Luxembourg and Hungary (both at +0.6%).