05.06.2007 - Retail sales in the euro area below expectations in April

The index of retail sales in the euro area rose by 0.2% in April, Eurostat, the Statistical Office of the European Communities reported today. In the preceding month the index of retail sales grew by 0.5%. The analysts estimated 0.4% increase in April.

The annual index of retail sales grew in April by 1.6%, compared with 2.6% increase in the preceding month. The expected annual increase was 1.9% in April.

The index of retail sales excluding food, drink and tobacco rose in April by 0.1% on month and 2.3% on year.

The increase of retail sales is a positive factor for national economy development and results in the increase of national currency rate. Oppositely, weak retail sales may contribute to euro rate decrease toward major currencies. (nortfinance)