Europe Retail Sales Decline Least in 16 Months, PMI Shows
European retail sales fell the least in 16 months in September, adding to signs the region’s economy may be emerging from recession.
The measure of euro-area sales rose to 48.6 from 47.1 in August when adjusted for seasonal swings, London-based Markit Economics said today. The index, which is based on a survey of more than 1,000 executives, has remained below the 50 mark that indicates a contraction since June of last year.
The euro-area economy is showing signs of recovering from its worst recession in six decades after governments stepped up stimulus measures and the European Central Bank cut rates to a record low and injected billions of euros into markets. Germany and France, the region’s largest economies, unexpectedly returned to growth in the second quarter, and German business confidence rose to a 12-month high in September.
The retail-sales gauge for France rose to 50.5, indicating the first expansion since January, from 47.3 the previous month, while in Germany, Europe’s biggest economy, the measure fell to 47.9 from 49.5
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