Forex News

12:01:51 06-06-2023

Eurozone Retail Sales decline 2.6% YoY in April vs. -1.8% expected

  • Eurozone Retail Sales came in at 0% MoM in April vs. 0.2% expected.
  • Retail Sales in the bloc arrived at -2.6% YoY in April vs. -1.8% expected.

Eurozone’s Retail Sales came in at 0% MoM in April versus 0.2% expected and -0.4% previous, the latest official figures released by Eurostat showed on Tuesday.

On a yearly basis, the bloc’s Retail Sales dropped 2.6% in April versus -3.3% booked in March and -1.8% expected.

FX implications

The Euro is unperturbed by the mixed Eurozone consumer spending data. At the time of writing, the major is trading at 1.0700, down 0.12% 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.

News provided by the portal FXStreet