Euro-Area Retail Sales Decreased More Than Forecast in December

Euro-area retail sales fell more than economists estimated in December led by declines in Germany and Spain.

Sales in the 17-nation currency bloc fell 0.8 percent from November, when they slipped a revised 0.1 percent, the European Union’s statistics office in Luxembourg said today. Economists had forecast a decline of 0.5 percent, according to the median of 23 estimates in a Bloomberg News survey. From a year earlier, sales dropped 3.4 percent.

Retail sales in Germany slumped 1.7 percent after a 0.6 percent gain in November, according to today’s report. France and Spain reported declines of 0.2 percent and 2.2 percent, respectively.

The statistics office didn’t report data for Italy, the Netherlands, Greece or Cyprus.

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