Euro area retail sales increased 0.3% MoM and 2.3% YoY in February. The monthly rate was slightly below expectations of an 0.5% MoM increase but the annual rate was higher than 1.8% YoY projected.

• The January retail sales growth rate was revised up from -0.3% MoM to 0.0% MoM (and annual rate revised up from 1.5% YoY to 1.8% YoY).
• Food sales and non-food (ex-fuel) sales were both up 0.3% MoM.
• Auto fuel sales were up 0.2% MoM.
• On an annual basis, food sales were up 1.9% and non-food sales up 2.5%. Auto sales were up 0.7% YoY.