Eurostat released its retail sales data for the Eurozone on Thursday. Retail sales in the Eurozone rose 0.4% in July, missing expectations for a 0.6% rise, after a 0.2% decrease in June. June's figure was revised up from a 0.6% drop.

The increase was driven by higher gasoline sales, which rose 0.8% in July.

Food, drinks and tobacco sales were up 0.2% in July, while non-food sales increased 0.1%.

On a yearly basis, retail sales in the Eurozone climbed 2.7% in July, exceeding forecasts of a 2.0% gain, after a 1.7% increase in June. June's figure was revised up from a 1.2% rise.

The annual rise was driven by non-food sales, gasoline sales, and food, drinks and tobacco and non-food sales.

Non-food sales gained 3.1% in July, gasoline sales increased 1.6%, while food, drinks and tobacco sales rose 1.9%.