Eurozone Retail Sales jump by 7.8% YoY in November, a big beat

Eurozone Retail Sales rose by 1.0% MoM in November vs. -0.5% expected.

Dhwani Mehta FXStreet

Retail Sales in the bloc arrived at 7.8% YoY in November vs. 5.6% expected.

Eurozone’s Retail Sales rose by 1.0% MoM in November versus -0.5% expected and 0.3% last, the official figures released by Eurostat showed on Friday.

On an annualized basis, the bloc’s Retail Sales came in at 7.8% in November versus 1.7% recorded in September and 5.6% estimated.

FX implications

The euro is holding onto its latest leg up on the upbeat Eurozone Retail Sales data.

At the time of writing, the major trades at 1.1316, higher by 0.24% 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, the positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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