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Decline In Portuguese Retail Sales Quickens In February

Portugal's retail sales continued to decrease in February, and the rate of fall accelerated from the previous month, data released by Statistics Portugal showed Friday.

Retail sales declined 8.9 percent on an annual basis in February, following the previous month's 7.8 percent decline. Sales, excluding fuel products, dropped at a faster rate of 8.5 percent than the previous month's 7.5 percent fall.

Retail sales of food, beverages and tobacco decreased 7.7 percent year-on-year, while sales of non-food products plunged 10.1 percent, the agency said.

Month-on-month, retail sales moved up 1.5 percent in February, recovering from the previous month's 2.2 percent decline.

by RTTNews Staff Writer

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