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

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Forex Pros - Retail sales in the euro zone rose slightly more-than-expected in January, official data showed on Thursday.

In a report, Eurostat said retail sales rose by a seasonally adjusted 0.4% in January, after dropping by 0.4% in December, whose figure was revised from a decline of 0.6%.

Analysts had expected retail sales to rise by 0.3% in January.

The report showed that year-on-year, retail sales rose more-than-expected in January, rising at an annualized rate of 0.7% in January, after falling by 0.8% in December, beating expectations for a flat reading.

Following the release of the data, the euro edged lower against the U.S. dollar, with EUR/USD shedding 0.04% to hit 1.3859.

Meanwhile, European stock markets were higher. The EURO STOXX 50 gained 0.56%, France's CAC 40 added 0.63%, the FTSE 100 increased 0.73%, while Germany's DAX was up 0.53%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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