Eurozone Retail Sales rises 0.2% MoM in May, misses 0.3% estimates

Sagar Dua FXStreet

Eurozone Retail Sales rise at a moderate pace of 0.2% Month-on-Month (MoM) in May against the estimates of 0.3%. In April, Retail Sales, a key measure of consumer spending, declined by 0.4%. On an annualized basis, the consumer spending measure rises by 1.6%, as expected, stronger than the previous reading of 1%.

Market reaction

No immediate impact seen in the Euro (EUR), following the data release. At press time, EUR/USD trades 0.15% lower at around 1.1420.

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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