Eurozone Retail Sales Rebound Modestly in May, Missing Monthly Forecasts

• Eurozone retail sales rose 0.2% MoM in May, missing forecasts.
• Annual sales increased 1.6%, meeting expectations.
• EUR showed limited immediate market impact.

Eurozone retail sales experienced a modest rebound in May, increasing by 0.2% month-over-month. This figure fell short of the 0.3% forecast, following a revised -0.3% decline in April. On an annual basis, retail trade volume rose by 1.6%, aligning with expectations and showing an improvement from April’s revised +0.9%. The monthly recovery was primarily driven by a +0.6% rise in food, drink, and tobacco sales, alongside a +0.1% increase in non-food products, while automotive fuel sales decreased by 0.5%. Despite the monthly miss, the annual data suggests consumer spending activity is holding up. The Euro (EUR) showed limited immediate reaction to the data, with EUR/USD trading slightly lower.