Retail sales in the euro area were more favorable than expected in September

Retail trade turnover in the euro area increased more than expected in September, on an annual basis, indicating that household consumption continues to support economic growth.

The European Union Bureau of Statistics (Eurostat) announced on Wednesday that, according to seasonally adjusted data, retail sales grew by 3.1 percent year-on-year in the 19-member eurozone, following a 2.7 percent rise in August. Analysts expected a weaker 2.5 percent.

Monthly growth, according to expert expectations, slowed to 0.1 percent from 0.6 percent in August. (MTI)