Eurostat released its retail sales data for the Eurozone on Thursday. Retail sales in the Eurozone increased 0.4% in January, beating expectations for a 0.1% rise, after a 0.6% gain in December. December's figure was revised up from a 0.3% increase.

Non-food sales increased 0.7% in January, food, drinks and tobacco sales rose 0.5%, while automotive fuel sales were up 0.1%.

On a yearly basis, retail sales in the Eurozone climbed 2.0% in January, beating forecasts of a 1.3% gain, after a 2.1% increase in December. December's figure was revised up from a 1.4% gain.

Non-food sales gained 3.0% year-on-year in January, gasoline sales increased 0.3%, while food, drinks and tobacco sales rose 1.4%.