Consumer spending in the Eurozone rose less than expected in May, signaling modest economic activity amid prior declines.
Eurozone retail sales increased by 0.2% month-on-month in May, missing the 0.3% estimate. The figure reflects a slight recovery after a 0.4% decline in April, highlighting weak consumer demand.
Annual retail sales grew 1.6%, matching expectations and improving from April’s 1% rise. The data, released by Eurostat, measures short-term retail sector performance, which accounts for roughly 5% of Eurozone economic output.
The Euro showed little reaction, with EUR/USD trading 0.15% lower at 1.1420 following the release.