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Eurozone retail sales dip in April; producer prices unexpectedly drop

Seasonally adjusted retail sales in the eurozone declined 0.4% in April from March, when sales stagnated, according to estimates from Eurostat.

The Econoday consensus forecast was for a month-over-month decline of 0.5%.

The retail trade volume slipped 0.4% for food, drinks and tobacco and for nonfood products. The volume for automotive fuel in specialized stores ticked up 0.1%. Year over year, calendar-adjusted retail sales increased 1.5% in April.

Separately, the eurozone's industrial producer price index unexpectedly declined 0.3% month over month in April, following a 0.1% dip in March.

The Econoday consensus was for prices to rebound by 0.3%.

On an annual basis, industrial producer prices rose 2.6%, below Econoday's estimate of 3.2%.