Investing.com - Retail sales in the euro zone fell significantly more-than-expected in October, adding to concerns over the region’s economic outlook, official data showed on Wednesday.
In a report, Eurostat said retail sales dropped by a seasonally adjusted 1.2% in October, compared to expectations for a 0.1% decline.
Retail sales for September were revised down to a 0.6% decline from a previously reported drop of 0.2%.
Year-over-year, retail sales in the euro zone plunged at an annualized rate of 3.6% in October from a year earlier, compared to expectations for a 0.8% decline, after falling 0.8% in September.
It was the biggest annual drop since May 2009.
Following the release of the data, the euro was little changed against the U.S. dollar, with EUR/USD easing down 0.02% to trade at 1.3093.
Meanwhile, European stock markets came off the highest levels of the day. The EURO STOXX 50 rose 0.3%, France's CAC 40 added 0.35%, London’s FTSE 100 eased up 0.25%, while Germany's DAX tacked on 0.15%.
In a report, Eurostat said retail sales dropped by a seasonally adjusted 1.2% in October, compared to expectations for a 0.1% decline.
Retail sales for September were revised down to a 0.6% decline from a previously reported drop of 0.2%.
Year-over-year, retail sales in the euro zone plunged at an annualized rate of 3.6% in October from a year earlier, compared to expectations for a 0.8% decline, after falling 0.8% in September.
It was the biggest annual drop since May 2009.
Following the release of the data, the euro was little changed against the U.S. dollar, with EUR/USD easing down 0.02% to trade at 1.3093.
Meanwhile, European stock markets came off the highest levels of the day. The EURO STOXX 50 rose 0.3%, France's CAC 40 added 0.35%, London’s FTSE 100 eased up 0.25%, while Germany's DAX tacked on 0.15%.