Eurozone Retail Sales decline 2.9% YoY in September vs. -3.2% expected

• Eurozone Retail Sales came in at -0.3% MoM in September vs. -0.2% forecast.
• Retail Sales in the bloc arrived at -2.9% YoY in September vs. -3.2% expected.

Eurozone’s Retail Sales dropped 0.3% MoM in September as against a 0.7% fall in August, according to the official data released by Eurostat on Wednesday. The market expectation was for a -0.2% decline.

Annually, Retail Sales in the old continent dropped 2.9% in the reported month, compared to -1.8% recorded in August and -3.2% expected.

FX implications

Mixed Eurozone data had little to no impact on the Euro. At the time of writing, the EUR/USD pair is trading at 1.0665, down 0.29% 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.