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Eurostat reported on Tuesday that retail sales in the Euro area rose by 0.8% on a monthly basis in March. This growth follows a decline of 0.3% recorded in February and exceeded market expectations for a 0.6% increase. Over the past 12 months, retail sales in the Euro area were up by 0.7%.
In the broader European Union (EU), retail sales saw a stronger increase, rising by 1.2% on a monthly basis and by 2% compared to the same period last year.
Market Reaction
Despite these positive figures, the data did not elicit a significant reaction in the EUR/USD currency pair. At the time of reporting, the pair was down by 0.1% on the day, trading at 1.0760. This suggests that other factors may be influencing the exchange rate dynamics beyond the retail sales data.
