Luxembourg Retail June 2022

Luxembourg

Luxembourg: Retail sales record largest drop in two years in June

August 24, 2022

Retail sales nosedived 9.9% in year-on-year terms in June, which contrasted May's 0.2% increase. June's outturn marked the worst reading since April 2020.

Meanwhile, annual average retail sales growth fell to 2.5% in June (May: +3.8%). This signals a worsening trend in the retail trade sector.

FocusEconomics Consensus Forecast panelists forecast private consumption to grow 3.3% in 2022, which is unchanged from last month’s forecast. In 2023, they see household spending increasing 2.2%.


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Luxembourg Retail June 2022

Note: Year on year and annual average growth of retail sales in %.
Source: Statistical Office of Luxembourg (STATEC)


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