Eurozone retail sales exceeded expectations in March

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Data on Thursday showed Eurozone retail sales rose more than expected in March, indicating pent-up demand among consumers as the pandemic eases.

The European Union statistics office Eurostat said that retail sales in the 19 countries that use the euro jumped 2.7%, month over month in March, and 12%, year over year.

Economists polled by Reuters had expected a monthly increase of 1.5% and an annual increase of 9.6%.

Sales are mainly driven by demand for non-food products excluding auto fuel, whose sales jumped 4.6% in March compared with February to record an increase of 25%, year on year. Eurostat said online sales increased 37.2%, year on year.

And Amazon.com for selling online recorded unprecedented profits during the first quarter of the year and indicated that consumers will continue to spend, making it one of the biggest beneficiaries of the Covid-19 pandemic.







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