Forex Pros – Retail sales in the euro zone fell more-than-expected in May, official data showed on Tuesday.
In a report, Eurostat said retail sales declined by a seasonally adjusted 1.1% in May, after rising by 0.7% in April, whose figure was downwardly revised from a 0.9% gain.
Analysts had expected retail sales to decline by 1.0% in May.
Year-over-year, retail sales in the euro zone fell at an annualized rate of 1.9% in May, after rising by 0.8% in April, outstripping expectations for a 0.6% drop.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.46% to trade at 1.4473.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 slumped 0.3%, France’s CAC 40 dipped 0.35%, the FTSE 100 eased up 0.1%, while Germany’s DAX gained 0.15%.
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