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Eurozone Retail Sales Growth Tops Expectations

Eurozone retail sales rebounded strongly in November, surpassing economists' expectations, preliminary data from Eurostat showed Monday.

Retail sales grew a calendar and seasonally-adjusted 1.5 percent from October, when they fell 1.1 percent. Economists had expected 1.2 percent growth.

The latest sales growth was the fastest since October 2016, when sales grew 2 percent.

Sales growth was led by a 2.3 percent increase in the non-food products segment, within which sales of textiles, clothing and footwear surged 5.9 percent. Pharmaceutical sales grew 0.6 percent.

Food, drinks and tobacco segment registered a 1.2 percent increase in sales.

Year-on-year, retail sales grew 2.8 percent in November after a 0.2 percent gain in October. Economists had forecast 2.3 percent increase.

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