Eurozone Retail Sales Rise Unexpectedly In August

Eurozone Retail Sales Rise Unexpectedly In August

Eurozone retail sales rose unexpectedly in August, data from Eurostat showed Wednesday.

Retail sales were up 0.1 percent on a monthly basis, the same rate of growth as seen in June and July. Economists had forecast a 0.1 percent drop for August.

On a yearly comparison, the volume of retail sales dropped by a less than expected 1.3 percent, following July's 1.4 percent fall. Sales were forecast to drop 1.9 percent in August.

Food, drinks and tobacco sales increased by 0.1 percent, while non-food sector sales fell 0.7 percent in August.