Economy & Politics

Timid growth of retail in Luxembourg

While the sector posted an overall increase of 3.8% in the European Union from July to August, the Grand Duchy only experienced a slight tremor of + 0.3% at the same time, according to data from Eurostat published on Monday.

Jean-Francois COLIN

While the sector posted an overall increase of 3.8% in the European Union from July to August, the Grand Duchy only experienced a slight tremor of + 0.3% at the same time, according to data from Eurostat published on Monday.

After the trauma of spring (-17.4% in March, -22.7% in April) and the sharp rise in May (+ 41.6%), the retail sector seems to have found a point of stabilization in Luxembourg since the summer. If the effects of the health crisis, and in particular the persistence of teleworking in many branches of activity, are still being felt, the month of August was marked by “a certain relaxation of the containment measures linked to covid-19” . As a result, the sales volume experienced a low monthly growth of + 0.3%, slightly below that of July (+ 0.8%).

These data published on Monday by the European statistical office Eurostat however, place the Grand Duchy clearly below the European average, established at + 3.8% between July and August. Among the neighbors, Belgium has the best record with a jump of 9.6%, ahead of France (6.2%) and Germany (3.1%).

In terms of annual variation this time, the volume of retail sales remains in 4.2% decrease in Luxembourg compared to August 2019. A dive that however continues to slow down compared to previous months (-6.3% in July, -8.8% in June, -10% in May). Erosion is therefore diminishing, while at the same time the European Union is showing an average increase of 3.7% of activity between August 2019 and August 2020.

Still on a European scale, the data show unsurprisingly that the branch of “mail order and internet sales” posted a monthly increase of 10.5% in August, against 6.5% for “textiles, clothing and shoes” and 2.9% for “pharmaceuticals and medical articles”. If the “food, drinks, tobacco” sector is doing rather well (+ 2.2%), the same is not true for “computer equipment and books” (-4%) as well as “Household appliances and furniture” (-2.7%).


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