Investing.com – Retail sales in the euro zone fell more-than-expected in September, official data showed on Monday.
In a report, Eurostat said retail sales fell by a seasonally adjusted 0.7% in September, disappointing expectations for a 0.1% decline.
The previous month’s figure was revised to a 0.1% increase from a previously reported 0.3% drop.
Year-over-year, retail sales in the euro zone fell at an annualized rate of 1.5% in September, after dropping at a rate of 0.1% in August and worse-than-expectations for a 0.5% drop.
Following the release of the data, the euro extended losses against the U.S. dollar, with EUR/USD slumping 0.73% to trade at 1.3692.
Meanwhile, European stock markets were sharply lower. The EURO STOXX 50 tumbled 2.15%, France’s CAC 40 sank 2.05%, the FTSE 100 fell 1.6%, while Germany's DAX slumped 1.85%.
In a report, Eurostat said retail sales fell by a seasonally adjusted 0.7% in September, disappointing expectations for a 0.1% decline.
The previous month’s figure was revised to a 0.1% increase from a previously reported 0.3% drop.
Year-over-year, retail sales in the euro zone fell at an annualized rate of 1.5% in September, after dropping at a rate of 0.1% in August and worse-than-expectations for a 0.5% drop.
Following the release of the data, the euro extended losses against the U.S. dollar, with EUR/USD slumping 0.73% to trade at 1.3692.
Meanwhile, European stock markets were sharply lower. The EURO STOXX 50 tumbled 2.15%, France’s CAC 40 sank 2.05%, the FTSE 100 fell 1.6%, while Germany's DAX slumped 1.85%.