Euro zone Retail Slow Down in July

Euro zone retail sales slowed as expected in July, data showed on Wednesday, adding to worries about euro zone economic growth, which ground to a halt in the second quarter.

The European Union’s Statistics Office, Eurostat, said that the volume of retail sales in the 18 countries sharing the euro fell 0.4 percent month-on-month in July and rose 0.8 percent year-on-year. Economists polled by Reuters had forecast a 0.4 percent monthly fall and a 0.9 percent annual rise.

Eurostat also lowered its estimate for retail sales growth in June to 0.3 percent month-on-month from the 0.4 percent reported previously and to 1.9 percent year-on-year from 2.4 percent previously.

via CNBC

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