Eurozone Posts Flat March Retail Sales
Source: Agencies |
May 6, 2010, Thursday
|
Print Edition
Print Edition
OFFICIAL figures show that retail sales in the 16 countries that use the euro were flat in March, a further sign that consumer spending is not yet driving economic growth.
The unchanged reading from Eurostat, the European Union's statistics office, was unexpected - the consensus in the markets was for a modest 0.2 percent rise.
The data are likely to cement expectations the eurozone will be slow to recover from recession.
Analysts think that domestic demand will need to take a bigger role for the pace of recovery to accelerate.
Eurostat says that retail sales in the wider EU, which includes non-euro members such as Britain and Sweden, were unchanged during the month, too.
The unchanged reading from Eurostat, the European Union's statistics office, was unexpected - the consensus in the markets was for a modest 0.2 percent rise.
The data are likely to cement expectations the eurozone will be slow to recover from recession.
Analysts think that domestic demand will need to take a bigger role for the pace of recovery to accelerate.
Eurostat says that retail sales in the wider EU, which includes non-euro members such as Britain and Sweden, were unchanged during the month, too.
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