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Eurozone Retail Sales Rise More Than Expected

Eurozone retail sales grew for a second consecutive month and at a faster-than-expected pace in February, preliminary data from Eurostat showed on Wednesday.

Retail sales rose 0.4 percent month-on-month in February, surpassing economists' expectations for 0.10 percent growth.

January's monthly growth of 1.3 percent was revised down to 0.9 percent.

Sales of non-food products increased 0.9 percent and those of food, drinks and tobacco edged up 0.1 percent. Automotive fuel sales decreased 0.7 percent.

On a year-on-year basis, retail sales rose 2.8 percent after a 2.20 percent increase in January. Economists had expected 1.50 percent growth.

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