Forexpros – Retail sales in the euro zone rose more-than-expected in May, but the previous month’s figure was revised lower, official data showed on Wednesday.
In a report, Eurostat said retail sales rose by a seasonally adjusted 0.6% in May, beating expectations for a 0.3% gain.
Retail sales for April were revised down to a 1.4% drop from a previously reported decline of 1%.
Year-over-year, retail sales in the euro zone fell at an annualized rate of 1.7% in May, compared to expectations for a 1.0% drop, after falling at a revised rate of 3.5% in April.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.17% to trade at 1.2587.
Meanwhile, European stock markets were mildly lower. The EURO STOXX 50 shed 0.35%, France’s CAC 40 slumped 0.4%, London’s FTSE 100 declined 0.2%, while Germany’s DAX fell 0.5%.
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