Retail Sales in the Eurozone rose more-than-expected in December giving a brighter picture on the economic outlook for E.U.'s economy.

Eurostat reported an increase of +0.3% on a monthly basis, analysts expected a decline by -0.1% in December. Data in the previous month showed an increase by +0.7% after being revised.

Year over year Retail Sales Increased at a rate of 2.8% (annualized) in December beating estimates of an increase of 2.0%.