Eurozone Retail Sales plunge 3.7% YoY in June vs. -1.7% expected

Eurozone’s Retail Sales fell by 1.2% MoM in June versus 0.0% expected and 0.4% last, the official figures released by Eurostat showed on Wednesday.

On an annualized basis, the bloc’s Retail Sales came in at -3.7% in June versus 0.4% recorded in May and -1.7% estimated.

Separately, Eurozone’s Producer Price Index (PPI) arrived at 35.8% and 1.1%, YoY and MoM respectively. Both readings surpassed market expectations.