Investing.com - Retail sales in the euro zone were unexpectedly flat in May, underling concerns over the region’s economic outlook, official data showed on Thursday.
In a report, Eurostat said retail sales were flat in May, compared to expectations for a 0.2% gain. Retail sales declined 0.2% in April, whose figure was revised down from a previously reported gain of 0.4%.
Year-over-year, retail sales in the euro zone rose at an annualized rate of 0.7% in May from a year earlier, below expectations for a 1.2% gain and after rising 1.8% in April.
Following the release of the data, the euro held on to modest losses against the U.S. dollar, with EUR/USD shedding 0.04% to trade at 1.3654.
Meanwhile, European stock markets remained higher. The DJ Euro Stoxx 50 tacked on 0.2%, France''s CAC 40 added 0.35%, Germany''s DAX edged up 0.35%, while London’s FTSE 100 advanced 0.4%.