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Euro zone retail sales slip back into rut

Retail sales - April improvement proves to be short-lived
Retail sales - April improvement proves to be short-lived

Retailers in the euro zone saw their sales fall in May, renewing a slump that was broken in April by a short-lived improvement, according to official EU data today.

The volume of retail sales in the euro zone dipped 0.4% in May over one month and 3.3% over one year, the European Union's Eurostat data agency said.

The result wiped out a minor improvement booked in April when retail sales finally rose after months of steady decline, edging up 0.1% over one month and reducing the fall over one year to 2.5%.

Retailers also suffered a setback in the broader EU in May, as sales across the bloc's 27 nations fell 0.5% over one month and 3.1% over one year.