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Eurozone Retail Sales Fall Unexpectedly In May

Eurozone retail sales declined unexpectedly in May due to weak turnover in food and automotive fuels, data from Eurostat revealed Thursday.

Retail sales slid 0.3 percent month-on-month in May, following a 0.1 percent fall in April. Sales were forecast to grow 0.3 percent.

Food, drinks and tobacco sales decreased 0.5 percent and non-food product sales dropped 0.1 percent. Sales of automotive fuels were down 1.3 percent.

On a yearly basis, retail sales growth eased to 1.3 percent from 1.8 percent a month ago. This was the slowest growth seen so far this year. Growth in sales was forecast to moderate to 1.6 percent.

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