Investing.com - Retail sales in the euro zone rose more than expected in November, easing concerns over the region’s economic outlook, official data showed on Thursday.
In a report, Eurostat said retail sales increased by a seasonally adjusted 0.6% in November, above forecasts for a gain of 0.1%.
Retail sales rose by 0.6% in October, whose figure was upwardly revised from a previously reported gain of 0.4%.
Year-over-year, retail sales in the euro zone increased at an annualized rate of 1.5% in November from a year earlier, easily surpassing expectations for a 0.2% gain and after rising 1.6% in October.
EUR/USD was trading at 1.1782 from around 1.1781 ahead of the release of the data, while EUR/GBP was at 0.7826 from 0.7825 earlier.
Meanwhile, European stock markets remained broadly higher. The EURO STOXX 50 rallied 1.25%, France's CAC 40 advanced 1.5%, Germany's DAX picked up 1.1%, while London’s FTSE 100 jumped 1.3%.
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Euro zone retail sales rise 0.6% in November
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