Euro zone retail sales rise more-than-expected in July

Forexpros – Retail sales in the euro zone rose more-than-expected in July, official data showed on Monday.

In a report, Eurostat said retail sales rose by a seasonally adjusted 0.2% in July, above expectations for a 0.1% increase.

June’s figure was revised down to a 0.7% gain from a previously reported 0.9% increase.

Year-over-year, retail sales in the euro zone fell at an annualized rate of 0.2% in July, after dropping at a rate of 0.7% in June, better-than-expectations for a 1.0% drop.

Following the release of the data, the euro remained lower higher against the U.S. dollar, with EUR/USD slumping 0.42% to trade at 1.4146.

Meanwhile, European stock markets were down sharply. The EURO STOXX 50 tumbled 2.85%, France’s CAC 40 dropped 3%, the FTSE 100 fell 2%, while Germany’s DAX plunged 2.95%.

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