Retail sales in the eurozone came in better than expected, but growth fell off sharply from the previous year, as consumers in the region struggled with the effects of the economic downturn.
The EU statistics agency Eurostat reported Friday that retail sales volume in the 17-nation euro zone saw a 0.1% monthly rise in June. However, it but fell 1.2% compared to the same month last year. Economists surveyed by Dow Jones Newswires had forecast a 0.1% monthly drop and a 1.8% year-on-year decline.
Sales in Germany, the largest economy in the eurozone, fell 0.1% in June from the previous month. That was its third monthly decline in a row.
Eurostat also revised May eurozone retail sales higher to show a 0.8% monthly rise. The initial estimate was a 0.6% monthly rise.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
