Eurozone Retail Sales decline 2.7% YoY in October vs. -2.6% expected
|- Eurozone Retail Sales came in at -1.8% MoM in October vs. -1.7% expected.
- Retail Sales in the bloc arrived at -2.7% YoY in October vs. -2.6% expected.
Eurozone’s Retail Sales dropped by 1.8% MoM in October versus -1.7% expected and 0.8% last, the official figures released by Eurostat showed on Monday.
On an annualized basis, the bloc’s Retail Sales came in at -2.7% in October versus 0% recorded in September and -2.6% consensus forecast.
FX implications
The Euro shrugs off the downbeat Eurozone data amid renewed across-the-board weakness for the US Dollar. At the time of writing, the major is trading at 1.0556, up 0.16% 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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