Malta registers ‘largest decline’ in EU, Eurozone retail sales
Malta ranked amongst the lowest in retail trade during April, almost at par with bailed-out Portugal and economically distressed Romania.
Statistics released by Eurostat show that Malta, Portugal and Romania registered the largest declines in retail trade during the month of April.
The decline registered by Malta runs contrary to the ‘more than expected growth’ registered in the Eurozone and the rest of the EU.
Data from Eurostat showed retail sales were up 0.9 percent month-on-month, offsetting 0.9 percent drop in March. Economists had expected a monthly growth of 0.3 percent.
On a yearly comparison, retail trade climbed 1.1 percent compared to a 1.7 percent drop in March. Economists had expected it to remain flat in April.
In EU27, retail sales moved up 1.1 percent on a monthly basis, lifting the annual growth to 1.9 percent in April.
In April, total retail trade increased in thirteen and decreased in eight member states. The highest annual increases were observed in Estonia, Luxembourg and Lithuania. Meanwhile, Malta, Romania and Portugal reported the largest declines.
