Investing.com - Retail sales in the euro zone fell more-than-expected in December, fuelling concerns over the region’s economic outlook, official data showed on Wednesday.
In a report, Eurostat said retail sales declined by a seasonally adjusted 1.6% in December, compared to expectations for a 0.5% decline. Retail sales rose 0.9% in November, whose figure was revised from a previously reported gain of 1.4%.
Year-over-year, retail sales in the euro zone fell at an annualized rate of 1% in December from a year earlier, disappointing expectations for a 1.5% gain, after rising 1.3% in November.
Following the release of the data, the euro was lower against the U.S. dollar, with EUR/USD shedding 0.05% to trade at 1.3511, compared to 1.3518 ahead of the data.
Meanwhile, European stock markets were higher. The EURO STOXX 50 rose 0.2%, France's CAC 40 added 0.4%, Germany's DAX inched up 0.1%, while the FTSE 100 advanced 0.4%.
