Eurozone retail sales push higher

Eurozone retail sales pushed higher in March, official data showed on Tuesday, beating expectations.

According to Eurostat, the European Union’s statistical office, the volume of retail trade rose 0.8% in March, better than the 0.6% rise most analysts had been expecting. It also reversed February's 0.3% decline.

Across the entire EU, retail sales jumped 1.2% in March, a notable improvement on February’s 0.1% uptick.

Year-on-year, sales rose 0.7% in the Eurozone and 2% in the wider bloc.

Driving the increase was sales of food, drinks and tobacco, which rose 1.2% in the Eurozone, and automotive fuel in specialised stores, up 2%.

Among member states, German retail sales jumped 1.8%, compared to February’s 1.6% slide. They also rose 1.1% in France, but softened 0.6% in Spain.

Data for Italy was not available.