Source: Sharecast
According to Eurostat, the statistical office of the European Union, retail trade volumes rose 0.2% in both the Eurozone and across the wider bloc. That compares to a 0.3% increase in October in the single currency bloc and a 0.2% uplift in the EU.
Consensus has been for a smaller 0.1% uplift in the Eurozone in November.
Year-on-year, the calendar-adjusted Eurozone retail sales index increased by 2.3%, notably ahead of forecasts for a 1.6% improvement. Leading the growth month-on-month was demand for non-food products, excluding automotive fuel, which helped offset a fall in sales of food, drinks and tobacco.
Among individual member states, volumes fell 0.6% in Germany, the region’s biggest economy, reversing a 0.3% uplift in October. In contrast, they rose in Spain, France and Italy, by 1%, 0.5% and 0.3% respectively.
Eurozone inflation hit the European Central Bank’s target in December when it fell to 2%, while the benchmark interest rate has now been held at 2% for four consecutive meetings.
The unemployment rate also ticked lower in November. However, consumer confidence remains subdued.
Data published on Thursday by the European Commission showed the Economic Sentiment Index shed 0.4 points in December, to 96.7, narrowly missing consensus for 97.