FXstreet.com (Barcelona) - The difficult momentum Euro Zone's economy is going through, plus the fast growing inflation, have started to reflect into consumption, as Euro Zone retail sales have declined in April for the third consecutive time, according to data released by Eurostat.
Retail sales have declined 0.6% in the countries sharing the Euro in April, against expectations of a 0.2% increase. A decline which follows a 0.9% drop in March, revised down from the -0.4% previously estimated. Year on year, retail sales have dropped 2.9%.
Food drinks and tobacco sales have posted the largest drop; 1.0% month on month, 3.4% down on the year, non-food products have declined 0.5% from March, and 2.4% from April 2007.