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Weak demand pushes EU retail sales low

Euro zone retail sales fell 1.2% in April from the March figure and declined 0.9% over 12 months, an initial estimate published today by EU statistic agency Eurostat showed.

Economists had been expecting a decline of 0.2% over one month and fall of 1.4% over one year.

The figures offered further evidence of weak domestic demand in Europe, which is weighing on the region's growth.

In March, retail sales slipped 0.1% from the previous month and 1.4% from the same month in 2004. In the 25-nation EU, retail sales fell 0.7% in April over one month and 0.3% over one year.