Euro zone retail sales fall further in December

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Figures from the EU’s statistical agency, Eurostat, have revealed that retail sales in the euro zone area fell again last month.

Retail sales in December fell 1.6% compared with a year earlier. Meanwhile, Novembera��s figure was revised downwards to show a bigger fall than expected. Eurostat revised down November sales to a 2.6% annual fall and a 0.1% monthly decline.

Commenting on the figures, Jennifer McKeown at Capital Economics, said a�?December’s euro zone retail sales figures show that falling inflation is still not boosting sales volumea�?.

Inflation in the euro zone fell to a 26-month low last month, as a result of the sharp fall in the price of energy bills.

Meanwhile, the euro zone economy, which is made up of 16-nations, entered recession in November after negative growth in the second and third quarters.

Finally, the European Central Bank (ECB) is expected to retain interest rates at 2% tomorrow.

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