Eurozone retail sales rise more than forecast
Eurozone retail sales increased 2.8% year-on-year in December, beating expectations for a 2% gain and following a 1.5% rise in November.
Eurostat's figures marked the highest growth since March 2007, boosted by Christmas demand. The data suggest that weaker oil prices may be lifting spending power in the euro-area.
The report follows a European Commission survey last week showing an improvement in consumer confidence in January to a six-month high.
"The strength in consumption growth is down to the purchasing power gain from falling inflation even prior to the oil price shock," said BNP Paribas European economist Evelyn Herrmann.
Eurozone consumer prices fell sharply in January by 0.6% year-on-year, prompting the European Central Bank to introduce a quantitative easing package to help bring inflation towards its target of just below 2%.