Luxembourg Retail February 2022

Luxembourg

Luxembourg: Retail sales fall at sharpest rate since July 2021 in February

April 26, 2022

Retail sales fell 0.3% year-on-year in February (January: +7.1% yoy). The outturn marked the worst reading since July 2021. Looking at the details of the release, food, beverages and tobacco sales was steady in February, while household equipment sales was unchanged. Meanwhile, automotive fuel from specialized stores sales also was steady from the previous month.

Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 8.5% in February, down from January's 8.7% reading.

FocusEconomics Consensus Forecast panelists forecast private consumption to grow 3.6% in 2022, which is down 0.6 percentage points from last month’s forecast. In 2023, they see household spending increasing 2.7%.


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Luxembourg Retail February 2022

Note: Year-on-year and month-on-month variation of retail sales in %.
Source: Statistical Office of Luxembourg (STATEC)


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