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

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Forexpros - Retail sales in the euro zone rose more-than-expected in June, official data showed on Wednesday.

In a report, Eurostat said retail sales rose by a seasonally adjusted 0.9% in June, above expectations for a 0.5% increase.

May's figure was revised down to a drop of 1.3% from a previously reported decline of 1.1%.

Year-over-year, retail sales in the euro zone fell at an annualized rate of 0.4% in June, after dropping at a rate of 2.3% in May, outstripping expectations for a 1.0% drop.

Following the release of the data, the euro moved higher against the U.S. dollar, with EUR/USD climbing 0.79% to trade at 1.4317.

Meanwhile, European stock markets were down. The EURO STOXX 50 slumped 0.1%, France's CAC 40 dipped 0.45%, the FTSE 100 sank 1.1%, while Germany's DAX fell 0.7%.

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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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