Investing.com - Retail sales in the euro zone rose much more than expected in January, easing concerns over the region’s economic outlook, official data showed on Wednesday.
In a report, Eurostat said retail sales increased by a seasonally adjusted 1.1% in January, blowing past forecasts for a gain of 0.1%. Retail sales rose by 0.4% in December, whose figure was upwardly revised from a previously reported gain of 0.3%.
Year-over-year, retail sales in the euro zone increased at an annualized rate of 3.7% in January from a year earlier, easily surpassing expectations for a 1.9% gain and after rising 3.1% in December.
EUR/USD was trading at 1.1128 from around 1.1130 ahead of the release of the data, while EUR/GBP was at 0.7259 from 0.7258 earlier.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 inched up 0.15%, France's CAC 40 tacked on 0.25%, Germany's DAX declined 0.25%, while London’s FTSE 100 slumped 0.15%.