Eurostat released its retail sales data for the Eurozone on Wednesday. Retail sales in the Eurozone fell 0.8% in March, missing expectations for a 0.7% decrease, after a 0.1% gain in February. February's figure was revised up from a 0.2% drop.

It was the first negative monthly reading since September 2014.

The decline was driven by lower gasoline sales, which dropped 2.8% in March.

Non-food sales fell 0.8% in March, while sales of food, drinks and tobacco decreased 0.6%.

On a yearly basis, retail sales in the Eurozone rose 1.6% in March, missing forecast of a 2.4% gain, after a 2.8% increase in February. February's figure was revised down from a 3.0% rise.

Gasoline sales declined 0.7% in March, while non-food products rose 3%.