Euro zone retail sales rise 0.3 percent in March, beat estimates

Nathan Andrada – Fourth Estate Cooperative Contributor

Brussels, Belgium (4E) – Retail sales in the euro zone rose for a third consecutive month in March, defying economists’ forecast for a decline, according to Eurostat’s figures released Tuesday.

Retail sales in March were up 0.3 percent from the previous month, when sales climbed 0.1 percent, which was revised from an increase of 0.4 percent.

Economists had predicted a decline of 0.2 percent. Sales gained 1 percent in January.

The common currency bloc’s retail sales grew 0.9 percent in March year-on-year, after rising 1 percent in February, which was revised from a gain of 0.8 percent.

In the 28-nation European Union, retail sales climbed 0.3 percent in March month-on -month, repeating February’s performance, revised from an increase of 0.5 percent. Sales grew 1.6 percent in March year-on-year, same as in February.

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