Euro Zone Retail Sales Stronger Than Expected In February
Euro zone retail sales were stronger than expected in February, data showed on Monday, as some countries eased their COVID-19 pandemic restrictions before tightening them again in March.
The European Union’s statistics office said retail sales in the 19 countries sharing the euro rose 3.0% month-on-month in February for a 2.9% year-on-year fall.
Economists polled by Reuters had expected a 1.5% monthly rise and a 5.4% year-on-year decline.
“Given that Italy saw restrictions ease in February, helped the 8.4% increase in sales while the Netherlands allowed in-store pickups of online orders from mid-February, which resulted in a 5.4% increase for the month,” said Bert Colijn, euro zone economist at ING bank.
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