Eurozone retail sales rise to 12-year high in November

Eurozone November retail sales have enjoyed their largest rise November 2009. Retail sales jumped by 1.4 per cent month-on-month in November. Analysts had expected a meagre increase of just 0.2 per cent.

The rise is a stark contrast to the previous month's decline of 0.2 per cent.

European economist at IHS Global Insight Howard Archer commented:

Hopefully, strengthening consumer confidence and the help to purchasing power coming from muted inflation across the Eurozone will increasingly underpin consumer spending and help Eurozone economic activity to gradually gain momentum as 2014 proceeds.