ISTANBUL  -  Euro-area retail sales posted an unexpected decline in January compared to a month ago, according to data released Thursday. The volume of retail trade in the eurozone decreased by 0.3% on a monthly basis in January, following a revised flat reading in December, Eurostat data showed. The market expectation was for growth of 0.1% month-on-month in January. In the EU, sales also declined by 0.2% in the same month. Sales volumes in the eurozone increased by 0.6% for food, drinks, and tobacco.

Meanwhile, sales fell 0.7% for non-food products (except automotive fuel) and 0.3% for automotive fuel in specialized stores.

On an annual basis, retail sales grew by 1.5% in the euro area and by 1.6% in the EU in January, falling short of the market forecasts.

Among EU members for which data are available, the highest monthly hikes were seen in Slovenia (2.3%), Hungary (2.2%), and the Netherlands (1.6%), while the largest falls were in Slovakia (down 9%), Lithuania (down 4.8%), and the Greek Cypriot Administration (down 2.2%).

The eurozone/euro area, or EA20, represents member states that use the bloc’s single currency, the euro, while the EU27 includes all member countries.