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Eurozone retail sales rise more than expected in October

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Staff Writer | December 5, 2016
Retail sales in the 19 countries that share the euro rose more than expected in October, according to the latest figures from Eurostat.
Eurozone retail sales
Europe   Sales of non-food products rose 2.3%
Retail sales were up 1.1% from September, beating expectations of a 0.9% increase. On the year, sales were up 2.4%, compared to a 1% jump in September.

Sales of non-food products rose 2.3%, while sales of food, drinks and tobacco were 0.2% higher. Sales of automotive fuel fell 1%.

In the EU-28 group of nations, retail sales were up 1.2% on the month and 3.5% on the year.

Pantheon Macroeconomics said this was a solid headline, boosted by strong data in Germany.

"We think the German data will be revised lower, but it won't change the story of a strong start to Q4 for the EZ consumer. Elsewhere, retail sales in Spain and France also lifted the euro area headline. Across sectors, a 2.3% month-to-month jump in non-food sales was the main driver of the October rise, offsetting a decline in spending on petrol. Food sales also rose modestly."

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