Eurozone Retail Sales jump 2.3% YoY in February vs. 1.8% expected

• Eurozone annual Retail Sales rose 2.3% in February.
• Retail Sales in the old continent arrived at 0.3% MoM in February.

The Eurozone’s retail sales rose 2.3% over the year in February, following a revised 1.8% growth in January, according to official data released by Eurostat on Monday. The data outpaced the market expectations for a 1.8% print.

On a monthly basis, Retail Sales in the old continent advanced by 0.3% in the same period versus January’s 0% revision while coming in below the estimated 0.5% increase.

FX implications

The Eurozone data fail to inpire the Euro. The EUR/USD pair is trading 0.30% higher on the day at 1.0986, as of writing.