- Eurozone Retail Sales rose by 0.2% MoM in May vs. 0.4% expected.
- Retail Sales in the bloc arrived at 0.2% YoY in May vs. 5.4% expected.
Eurozone’s Retail Sales increased by 0.2% MoM in May versus 0.4% expected and -1.4% last, the official figures released by Eurostat showed on Wednesday.
On an annualized basis, the bloc’s Retail Sales came in at 0.2% in May versus 4.0% recorded in April and 5.4% estimated.
FX implications
The euro is fading the recovery following a big miss on the Eurozone Retail Sales data.
At the time of writing, the major is trading at 1.0240, lower by 0.26% on the day.
About Eurozone Retail Sales
The Retail Sales released by Eurostat are a measure of changes in sales of the Eurozone retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. Usually, the positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
