Eurozone retail trade drops 1.0pc in March

BRUSSELS, May 4 (Xinhua): Retail trade volume in the eurozone dropped 1.0 per cent in March compared with the previous month, the European Union's (EU) statistical bureau Eurostat said Wednesday. In March, food, drinks and tobacco decreased by 0.6 per cent, while the non-food sector fell by 1.1 per cent. Year-on-year, the retail sales index declined by 1.7 per cent in the euro area, according to Eurostat. Revised figures showed retail sales in the eurozone in February gained 0.3 per cent month-on-month and 1.3 per cent year-on-year. In the 27-nation EU, retail trade volume in March dropped 0.8 per cent from February and declined by 1.0 per cent from the previous year. Retail sales are an indication of household demand, one of the three major economic drivers.