European Retail Sales Declined Most in More Than a Year in May
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European retail sales declined the most in more than a year in May, as consumers from Germany to Ireland and Spain cut spending.
Sales in the 17-nation euro region slipped 1.1 percent from April, when they rose 0.7 percent, the European Union’s statistics office in Luxembourg, Eurostat, said today. That’s the biggest decline since April 2010. Economists had projected a drop of 1 percent, the median of 22 estimates in a Bloomberg News survey showed. Sales fell 1.9 percent from a year ago.