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Eurostat released its retail sales data for the Eurozone on Friday. Retail sales in the Eurozone rose 0.2% in May, exceeding expectations for a 0.1% gain, after a 0.7% increase in April.
The increase was driven by higher food, drinks and tobacco and non-food sales. Both food, drinks and tobacco sales and non-food sales increased 0.4% in May.
Gasoline sales declined 0.7% in May.
On a yearly basis, retail sales in the Eurozone rose 2.4% in May, beating forecasts of a 2.3% gain, after a 2.7% increase in April. April's figure was revised up from a 2.2% rise.
The annual rise was driven by non-food sales, which gained 3.4% in May.
Food, drinks and tobacco sales rose 1.7% in May, while gasoline sales increased 0.7%.
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