Cityscape in Luxembourg

Luxembourg Retail July 2023

Luxembourg: Retail sales growth slows in July

Retail sales expanded 7.8% year on year in July (June: +9.9% yoy) in value terms, largely due to higher fuel sales. In contrast, sales of most other key retail sales categories declined. Moreover, retail sales volumes—which bear a stronger relation to GDP—fell 2.0% year on year in July.

Meanwhile, annual average retail sales growth rose to 4.3% in July (June: +3.6%). This signals an improving trend in the retail trade sector.

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