Luxembourg Retail January 2022

Luxembourg

Luxembourg: Retail sales growth accelerates in January

March 25, 2022

Retail sales jumped 5.3% year-on-year in January, up from December’s 1.65 increase. The print came on the back of stronger growth in automotive fuel from specialized stores sales, and a rebound in the sales of household equipment. Food, beverages and tobacco sales, meanwhile, contracted at a steeper rate.

Meanwhile, annual average retail sales growth rose to 7.9% in January (December: +7.1%), which marked a seven-month high.

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 January 2022

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


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