Luxembourg retail sales up 1.5% in July

The retail sales showed a welcome increase after an impressive 7.2% drop at the beginning of the summer.

Still, despite the increase, retail business shows very significant decline on an annualized basis. According to Eurostat, the total annual decline in the Grand Duchy’s trade turnover amounted to 6.3%. Only Denmark shows worse results — a 7.7% fall.

In general, only automotive industry has shown growth both in the EU (0,3%) and the eurozone (0,4%). Some categories show more mixed results. For example, food, beverage and tobacco product trade went 0.1% in the eurozone, while in the EU, on the contrary, it declined 0.1%. Others have dropped universally, like non-food product sales — 0.2% to 0.4% falls across all regions.