Retail sales across the European Union showed a decline in December, with both the eurozone and the EU reporting decreases, while Bulgaria bucked the trend with continued growth in retail trade. According to Eurostat, retail sales in the euro area dropped by 0.2% in December, following a stagnant performance in November. Similarly, retail sales in the EU fell by 0.3%, after a slight increase of 0.1% the previous month.

The downturn in December was attributed to a drop in consumer demand for food, drinks, and tobacco products, which saw reductions of 0.7% in the euro area and 0.4% in the EU. Sales of automotive fuels also declined, by 0.3% in the euro area and 0.5% across the EU. However, there was a slight rebound in non-food product sales, which rose by 0.3%, and a modest increase in automotive fuel sales in both regions.

Despite the overall contraction, retail trade in the EU increased compared to December 2023, with the euro area reporting a 1.9% rise and the EU as a whole up by 2.0%. This marks the sixth consecutive month of year-on-year growth for the EU.

In contrast to the EU-wide trend, Bulgaria saw a 0.5% increase in retail sales in December, continuing its growth for the fourth consecutive month. The country's retail sales accelerated year-on-year, rising by 7.8% compared to the previous year, an improvement over the 6.8% increase recorded in November. Stronger growth was reported in Slovakia, Finland, and Spain, with Slovakia showing the most significant increase in retail sales, up by 8.2%.

In Bulgaria, this ongoing upward trend in retail sales reinforces the country's solid performance in comparison to many other EU member states.

Source: Eurostat