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Eurozone retail sales slow more than expected in February

03 April 2008, 12:50 CET

(BRUSSELS) - Retailers in the 15 countries sharing the euro saw sales slow in February more than economists expected driven by weak consumer spending in Germany, official EU data showed on Thursday.

The volume of retail trade in the eurozone fell O.5 percent in February from January while slipping 0.2 percent over 12 months, the European Union's Eurostat data agency said.

Economists had forecast retail sales would rise 0.3 percent over one month and remain flat over one year.

The February data also marked a slowdown from January when sales rose 0.5 percent from December and nudged up 0.2 percent over 12 months.

Retail sales in regional heavyweight Germany weighed on the overall figures, falling 1.6 percent over one month and 3.1 percent over 12 months.

The eurozone's weakeness contrasted with the situation in the 27-nation EU, where retail sales rose 0.3 percent and 2.0 percent over 12 months, driven by a consumer spending boom in the bloc's newest members and strong sales in Britain.

Further details - Eurostat press release

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