• Eurozone Retail Sales came in at -0.3% MoM in August vs. -0.4% expected.
• Retail Sales in the bloc arrived at -2.0% YoY in August vs. -1.7% expected.

Eurozone’s Retail Sales dropped by 0.3% MoM in August versus -0.4% expected and -0.4% last, the official figures released by Eurostat showed on Thursday.

On an annualized basis, the bloc’s Retail Sales came in at -2.0% in August versus -1.2% recorded in July and -1.7% estimated.

FX implications

The euro pays little heed to the downbeat Eurozone data. At the time of writing, the major is trading at 0.9888, adding 0.07% on the day.

About Eurozone Retail Sales

The Retail Sales released by Eurostat are a measure of changes in sales of the Eurozone retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. Usually, positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.