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Eurozone retail sales fall faster than expected

03 December 2008, 12:14 CET

(BRUSSELS) - Retailers in the 15 countries sharing the euro saw demand fall faster than expected in October, official EU data showed on Wednesday, adding to the gloom hanging over the bloc's economy.

The volume of retail sales in the eurozone fell 0.8 percent in October over one month and 2.1 percent over one year, the European Union's Eurostat data agency said.

The result exceeded economists expectations for retail sales to fall only 0.4 percent over one month and 1.5 percent over one year, as polled by Dow Jones Newswires.

It also marked a deterioration from September when retail sales were flat compared to August and fell 1.4 percent over one year, according to Eurostat, revising its figures slightly up.

In the 27 nation-EU, retail sales eased 0.3 percent in October from September and fell 0.8 percent over one year.

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