Eurozone Retail Sales declines unexpectedly by 0.3% MoM in June
Eurozone Retail Sales contracted at a 0.3% pace Month-on-Month (MoM) in June, while they were anticipated to have risen moderately by 0.1%, from 0.4% in May, revised higher from 0.2%.
Eurozone retail sales unexpectedly fell by 0.3% Month-on-Month (MoM) in June, contrary to expectations of a modest 0.1% increase. The annualized growth rate slowed to 0.7%, down from the estimated 1% and the previously revised 1.6%. The Euro (EUR) currency remained relatively stable, trading 0.1% lower at 1.1543 following the release of the Eurozone Retail Sales data.
The Eurozone Retail Sales data, published monthly by Eurostat, measures the volume of retail sales in the Eurozone and is considered an indicator of consumer spending, which accounts for around 5% of the total value added in the Eurozone economies.
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