Eurozone retail sales declined further than expected in May, dropping 0.4 per cent month-on-month, worse than the 0.1 per cent fall that was expected.

In the 16-country currency area, the European Union statistics office said sales decreased 3.3 per cent year-on-year, compared with the 2.7 per cent fall anticipated.

Sales of non-food products fell 0.6 per cent month-on-month and 3.4 per cent year-on-year while food, drink and tobacco sales climbed 0.2 per cent on the month, but slid 1.7 per cent compared with last year.

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