Eurozone Retail Sales MoM (May) Act: 0.2% Prev: -1.3% Fcst: 0.4%

YoY (May) Act: 0.2% Prev: 3.9% Fcst: -0.4%

Euro zone consumers cut spending on food, drinks and tobacco for the second straight month in May amid a spike of prices, according to estimates from the European Union statistics office Eurostat released on Wednesday.

The drop in essential purchases came as total retail sales in the 19-country currency bloc slightly rose in May on the month, but below market expectations.

Eurostat said consumers' purchases increased by 0.2% in May month-on-month after they had tumbled by 1.4% in April.

Good News: Better than previous.

Bad News: Missed the forecast.