Eurozone Retail Sales decline 0.2% MoM in February, as expected

Sagar Dua FXStreet

Eurozone Retail Sales, a key measure of consumer spending, decline by 0.2% month-on-month (MoM) in February, as expected, after remaining flat in January, revised higher from -0.1%. On an annualized basis, the consumer spending measure expands 1.7%, faster than 1.6% estimates, but slower than the preliminary reading of 2.1%, revised higher from 2%.

Market reaction

No immediate impact on the Euro (EUR) has been observed, following the Eurozone Retail Sales data release. As of writing, EUR/USD trades 0.8% higher to near 1.1690.

(This story was corrected at 10:30 GMT to say in the first paragraph that Eurozone Retail Sales were flat in January and not -0.1%)

Economic Indicator

Retail Sales (MoM)

The Retail Sales data, released by Eurostat on a monthly basis, measures the volume of retail sales in the Eurozone. It shows the performance of the retail sector in the short term, which accounts for around 5% of the total value added of the Eurozone economies. Retail Sales data is widely followed as an indicator of consumer spending. Percent changes reflect the rate of changes in such sales, with the MoM reading comparing sales volumes in the reference month with the prior month. Generally, a high reading is seen as bullish for the Euro (EUR), while a low reading is seen as bearish

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