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Eurozone Retail Sales Remain Flat In August

Eurozone retail sales remained flat in August after recovering in the prior month, Eurostat reported Monday.

Economists had forecast sales to fall 0.1 percent after rising 0.6 percent in July. The rate for July was revised up from the initial estimate of 0.4 percent.

Growth in food sales doubled to 0.8 percent from 0.4 percent in July. Meanwhile, non-food sales slid 0.3 percent, reversing a 0.5 percent rise in the prior month.

On a yearly basis, retail sales growth slowed to 2.3 percent in August from revised 3 percent in July. Nonetheless, it was better than the expected increase of 1.7 percent.

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