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Eurozone Retail Sales Growth Accelerates In February

Eurozone retail sales grew at a faster pace in February before the coronavirus containment measures began in member countries, data from Eurostat showed Friday.

The retail trade volume grew 0.9 percent on a monthly basis, faster than the 0.7 percent increase seen in January. Economists had forecast sales growth to ease 0.1 percent in February.

Sales of food, drinks and tobacco advanced 2.4 percent and non-food product sales gained 0.2 percent. Meanwhile, automotive fuel sales were down 0.1 percent.

On a yearly basis, retail sales volume growth improved to 3 percent in February from 2.2 percent in January. Economists had forecast 1.7 percent annual growth.

In the EU27, retail trade advanced 0.8 percent on month, taking the annual growth to 3.2 percent in February.

Among member countries, Estonia reported the fastest monthly growth of 4.4 percent, followed by Latvia and Portugal. Meanwhile, decreases were seen in Ireland, Slovenia, Croatia and Poland.

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