Investing.com - Retail sales in the euro zone rose significantly more-than-expected in January, official data showed on Tuesday.
In a report, Eurostat said retail sales rose by a seasonally adjusted 1.2% in January, blowing past expectations for a 0.2% gain.
Retail sales fell by 0.8% in December.
Year-over-year, retail sales in the euro zone dropped at an annualized rate of 1.3% in January from a year earlier, compared to expectations for a 2.9% decline, after declining 3% in December.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.23% to trade at 1.3056.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rallied 1.6%, France's CAC 40 rose 1.4%, London's FTSE 100 advanced 0.8%, while Germany's DAX jumped 1.7%.
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