Investing.com - Retail sales in the euro zone rose significantly more-than-expected in May, increasing for the first time in four months, official data showed on Wednesday.
In a report, Eurostat said retail sales jumped by a seasonally adjusted 1% in May, blowing past expectations for a 0.2% increase.
Retail sales for April were revised to a 0.2% decline from a previously reported 0.5% decline.
Year-over-year, retail sales in the euro zone dropped at an annualized rate of 0.1% in May from a year earlier, significantly better than expectations for a 1.9% decline, after falling 1% in April.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD easing down 0.19% to trade at 1.2954.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 tumbled 2%, France's CAC 40 fell 1.7%, Germany's DAX dropped 1.8%, while London’s FTSE 100 slumped 1.6%.
In a report, Eurostat said retail sales jumped by a seasonally adjusted 1% in May, blowing past expectations for a 0.2% increase.
Retail sales for April were revised to a 0.2% decline from a previously reported 0.5% decline.
Year-over-year, retail sales in the euro zone dropped at an annualized rate of 0.1% in May from a year earlier, significantly better than expectations for a 1.9% decline, after falling 1% in April.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD easing down 0.19% to trade at 1.2954.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 tumbled 2%, France's CAC 40 fell 1.7%, Germany's DAX dropped 1.8%, while London’s FTSE 100 slumped 1.6%.