Economic Buzz: Eurozone retail sales rise 1.8% on year in May-25, growth softens compared to 2.7% in previous month

Euro area retail sales decreased for the first time in five months. Retail sales saw a monthly fall of 0.7 percent in May, reversing April's 0.3 percent increase, Eurostat reported Monday. Another data from Eurostat showed that services production decreased 0.3 percent from April, when output was up 0.8 percent. Retail sales of food, drinks and tobacco declined 0.7 percent and that of non-food products dipped 0.6 percent. Year-on-year, retail sales growth fell to 1.8 percent in May from 2.7 percent in the prior month.

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