Luxembourg: Decline in retail sales softens in July
Retail sales dropped 2.1% month-on-month in seasonally adjusted terms in July (June: -3.1% mom).
On an annual basis, retail sales rose at a faster rate of 10.3% in July (June: +9.9% yoy). Meanwhile, annual average retail sales growth rose to 11.9% in July (June: +11.6%). This signals an improving trend in the retail trade sector.