The amount consumers across Europe spent on everyday items, such as food, drinks and toiletries, rose by the lowest level on record, according to Nielsen's Q2 2016 European Growth Reporter.
In the second quarter of 2016, prices paid for fast-moving consumer goods (FMCG) rose just 0.7% year-on-year, whilst volumes rose 0.1% – the lowest level for over two years. Consequently, grocery retailers saw a 0.8% increase in takings at the till – the lowest ever figure since measurement began in the final quarter of 2008.
In Belgium, prices paid for FMCG goods increased by 2.9% -- offsetting a -2.9% decline in volume of products sold, and resulting in stable takings at the till (0.0%).
Across the 21 European countries measured, Turkey had the highest growth in takings at the tills (+8.9%), followed by Norway (+3.5%) and Sweden (+3.2%). At the other end of the scale, the biggest declines were in Greece (-7.2%) and Finland (-4.6%).
Of the big five western European markets, Spain (+2.1%) had the highest growth, followed by Italy (+1.2%). The UK had its worst performance for nearly two years (-1.6%), having the lowest growth among this group and the third lowest among all 21 countries.
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