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September euro zone retail sales stronger than expected

EURUSD News by Newsroom on 08:36 November 07, 2018 EST

Euro zone retail sales rose  in September, and August data was also revised upwards, data from the European Union's statistics office Eurostat showed on Wednesday.

Retail sales in the 19 countries sharing the euro were flat month-on-month leading to a 0.8% year-on-year gain. Consesus had expected a 0.1% monthly rise and a 0.7% annual increase. 

Eurostat also revised strongly August data to a 0.3% month-on-month rise from a 0.2% monthly contraction and to a 2.2% year-on-year gain from 1.8%. 

While retail sales of shoes and clothes fell in September in monthly and annual terms,  online purchases jumped 2.2% on the month and 5.2% year-on-year.

The Euro trades solidly above 1.14 against the dollar after the release.