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Euro zone retail sales stronger than expected in February

Euro zone retail sales stronger than expected in February

Euro zone retail sales, an indication of domestic demand, were stronger than expected in February, led by a jump in sales of non-food products, data showed today.

The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro rose 0.4% month-on-month for a 2.8% year-on-year gain.

Economists polled by Reuters had expected a 0.2% monthly increase and a 2.3% annual rise.

Eurostat said sales of clothes and shoes rebounded from a 0.6% slump in January to a 1.9% month-on-month rise in February and were 2% higher than a year earlier.

In year-on-year terms, sales over the internet showed the strongest gain, up 8.8% in February and accelerating from a 6.8% increase in January.

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