Luxembourg-based European Commission Eurostat released sales statistics that suggest the retail trade volume for euro area (EA17) recorded 3.6% drop while European Union (EU27) posted 2.4% dip compared to the revenues of previous year same period.

On the monthly basis, revenues dropped 1.2% in euro area along with 1.1% drop in European Union for October 2012.

Month-on-month data reveals 0.8% drop in both the area for Food, drinks and tobacco, whereas non-food sector recorded 1.4% and 1.3% fall in euro area and EU27 respectively.

Among the sixteen member states that posted plunging sales, Portugal, Finland and Germany were the lowest performing states with 4.5%, 3% and 2.8% dip respectively.

Ireland, meanwhile, posted the highest positive sales number of 1.9% compared to 0.6% rise for the month of September 2012.

Lithuania and Belgium alos posted a 0.8% and 0.7% increase respectively.

The annual stats suggest that Spain posted lowest sales with 11.5% drop among eleven states performing negatively with Portugal and Slovenia recording drop of 6.7% and Poland 4.4%.

Largest annual sales increase wes seen in Latvia with 9.2% growth while Luxembourg and Estonia reported a jump of 7% and 6.4% respectively.

The volume of trade sales remained stable in Romania.

Eurostat also reported that sales of food, drinks and tobacco fell by 2.9% in the euro area and in the EU27 it was down by 2.3% along with revenues of non-food sector decreased by 3.5% and 1.6% for the respective regions.