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Euro zone retail sales at its fastest growth in 2 years

EURUSD News by Newsroom on 09:34 November 07, 2017 EST
Clothes and furniture boost euro zone retail sales in September despite a fall in motor fuel sales, pointing to rising domestic demand as the economy gathers pace.

Retail sales in the 19 countries sharing the euro rose 0.7 percent month-on-month for a 3.7 percent year-on-year jump the European Union’s statistics office Eurostat said on Tuesday. Economists consensus had expected a monthly rise of 0.6 percent and a 2.7 percent annual gain.

Eurostat also revised upwards month-on-month retail sales data for August to -0.1 percent from -0.5 percent previously estimated and to a year-on-year gain of 2.3 percent from 1.2 percent.

In Romania retail trade turnover went up by 13.7% in September compared to the same month of 2016.
The increase in sales volumes in Ireland over the year was of the order of 8.2% while Luxembourg showed the biggest fall where sales volumes were over 25% lower in the year.

The Euro is softer on Tuesday and trades in the 1.15 region against the dollar.