Eurozone Retail Sales decline 2.3% YoY in February vs. 1.9% expected
|- Eurozone Retail Sales came in at 0.3% MoM in February vs. 1.0% expected.
- Retail Sales in the bloc arrived at -2.3% YoY in February vs. 1.9% expected.
Eurozone’s Retail Sales rose by 0.3% MoM in February versus 1.0% expected and -1.6% last, the official figures released by Eurostat showed on Monday.
On an annualized basis, the bloc’s Retail Sales came in at -2.3% in February versus -2.8% seen in January and the 1.9% consensus forecast.
FX implications
The Euro remains on the defensive on the awful Eurozone data. At the time of writing, the major is trading at 1.0626, down 0.04% on the day.
About Eurozone Retail Sales
The Retail Sales released by Eurostat are a measure of changes in sales of the Eurozone retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. Usually, positive economic growth anticipates "Bullishness" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
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