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