Eurozone retail sales miss expectations
Retail sales in the 19 countries that share the euro were stable in April from March compared with expectations of a 0.3% increase, according to the latest figures from Eurostat.
Food, drinks and tobacco sales rose 0.5%, while non-food products remained stable and automotive fuel decreased by 0.1%.
On the year, Eurozone retail sales were up 1.4%, missing forecasts of a 1.9% rise.
Dennis de Jong, managing director at UFX.com, said: “A disastrous April made way for a flatlining May set of retail sales data, which comes amid continued EU referendum turbulence and decreasing real-terms wages.
“ECB president Mario Draghi will be tentatively pleased that the result is moving in a positive direction, but the year-on-year figures are still down and he will know that there is much work to be done before retailers can feel any sense of comfort.
“While it might not feel like it yet, the generally improving weather is sure to get people out of their houses and into shops, so Draghi will be hoping that the summer heralds some more convincing results.”