Euro Zone Retail Sales Rebound More Than Expected In May

Euro zone monthly retail sales rose more than expected in May after a drop in April, driven mostly by purchases of non-food products and car fuel, data released on Tuesday showed. The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro increased 4.6% month-on-month in May and were 9.0% higher than a year earlier. Economists polled by Reuters had expected a 4.4% monthly rise and forecast a 8.2% year-on-year surge. Read more at Reuters.