Eurozone Retail Sales Up in May

Eurostat figures reported on Monday showed that sales in the Eurozone increased with the easing of lockdown in the countries of the region, which revived sales surprisingly after its collapse in March and April.

Eurostat reported that retail sales in the Eurozone rose 17.8% in May compared to-9.9 in April, the most significant increase since 1999. The upbeat market forecast was a 15% increase.

On an annual basis, May sales were still down 5.1%, but the drop also fell short of the expectations of economists surveyed in the Reuters poll, who expected a decline of 7.5%.

Retail sales in Germany increased by 13.9%, and 25.6 in France.

Eurostat data also include small companies, which employ fewer than 10 people – in this case, small family shops – but exclude auto sales.