Investing.com - Retail sales in the euro zone rose significantly more-than-expected in November, easing concerns over the region’s economic outlook, official data showed on Wednesday.
In a report, Eurostat said retail sales jumped by a seasonally adjusted 1.4% in November, easily surpassing expectations for a 0.2% gain. Retail sales fell 0.4% in October, whose figure was revised from a previously reported decline of 0.2%.
Year-over-year, retail sales in the euro zone advanced at an annualized rate of 1.6% in November from a year earlier, beating expectations for a 0.3% gain, after falling 0.3% in October.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.07% to trade at 1.3606.
Meanwhile, European stock markets were lower. The EURO STOXX 50 fell 0.1%, France's CAC 40 dipped 0.25%, Germany's DAX inched down 0.2%, while the FTSE 100 declined 0.4%.
In a report, Eurostat said retail sales jumped by a seasonally adjusted 1.4% in November, easily surpassing expectations for a 0.2% gain. Retail sales fell 0.4% in October, whose figure was revised from a previously reported decline of 0.2%.
Year-over-year, retail sales in the euro zone advanced at an annualized rate of 1.6% in November from a year earlier, beating expectations for a 0.3% gain, after falling 0.3% in October.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.07% to trade at 1.3606.
Meanwhile, European stock markets were lower. The EURO STOXX 50 fell 0.1%, France's CAC 40 dipped 0.25%, Germany's DAX inched down 0.2%, while the FTSE 100 declined 0.4%.