Eurozone retail sales unexpectedly drop in December

Retail sales in the 19 countries that share the euro unexpectedly fell in December, according to the latest figures from Eurostat.

Sales were down 0.3% on the month, missing expectations for a 0.3% increase.

Sales of automotive fuel fell 1.1%, while foods, drinks and tobacco sales were 0.4% lower and non-food products sales remained stable.

On the year, retail sales were up 1.1%, undershooting forecasts of a 1.8% rise.

In the EU-28 group of countries, retail sales were down 0.8% on the month and up 2.3% on the year.