Eurozone Retail Sales drop 3.0% YoY in March vs. -3.5% expected

• Eurozone Retail Sales came in at -0.8% MoM in March vs. -0.8% expected.
• Retail Sales in the bloc arrived at -3.0% YoY in March vs. -3.5% expected.

Eurozone’s Retail Sales declined by 0.8% MoM in March versus -0.8% expected and 0.8% previous, the latest official figures released by Eurostat showed on Tuesday.

On an annualized basis, the bloc’s Retail Sales came in at -3.0% in March versus -1.8% recorded in February and -3.5% expected.

FX implications

The Euro finds some demand on the upbeat Eurozone data. At the time of writing, the major is trading at 1.0909, up 0.48% 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.