Eurostat, the statistical office of the European Union (EU) reported that the seasonally adjusted volume of retail trade in the Eurozone rose by 0.5 percent m-o-m in June, following an unrevised 0.4 increase m-o-m in May.

In y-o-y terms, adjusted retail sales grew by 3.1 percent, following a revised 2.4 percent gain in May (originally a 2.6 percent increase). That was the highest growth rate since last October.

Economists had forecast the Eurozone's retail sales in June would rise 0.1 percent m-o-m and 2.6 percent y-o-y.

According to the report, the June increase was attributable to the higher sales of automotive fuel (+1 percent m-o-m), food, drinks and tobacco (+0.7 percent m-o-m) and non-food products (+0.3 percent m-o-m).

In y-o-y terms, retail sales of automotive fuel boosted by 3.5 percent, sales of non-food products rose by 3.2 percent and sales food, drinks and tobacco increased by 2.6 percent.