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Eurozone Retail Sales Unexpectedly Dip In February
Turnover in the Eurozone's retail sector was slightly weaker than generally expected in February, while January's rebound was cut in half, Eurostat reported on Tuesday. Taking into account January's downward revision, February's 0.1% monthly drop reduced the annual increase to 0.1%. Food, drink and tobacco sales stagnated for the second month in February, though they improved on the year to -0.5% (vs. -0.9% y/y in January), while non-food sales declined 0.1% m/m, reducing the annual gain to +0.9%. Unable to maintain their upward trend, German retail sales slipped 0.3% on the month in February for a +1.1% change on ... (full story)