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.