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The Eurozone retail sales rose in May on a month-over-month basis, according to data released by Eurostat. This factor approves slow economic growth of the region with the help of domestic demand, on the background of growth in employment market.
According to the latest report, retail sales rose in May by 0.4% on a month-over-month basis and by 1.6% on a year-over-year basis. Experts expected higher growth on a month-over-month basis at 0.5%.
Low inflation level rate and stable employment market supported domestic consumption. Moreover, unemployment fell to a five-year minimum.
However, experts continue to warn that the life after the British referendum is full uncertainty concerning economic outlooks both for the UK and the Europe, which may put a pressure on sentiments and activity in these regions. This opinion was approved in Markit. It was aid that the latest data on manufacturing and non-manufacturing PMI must be halved as 90% of information was obtained before the Brexit.