Euro sales continue decline

Eurozone retail sales continued to decline in May, according to the latest survey data from Markit.

However, the rate of decline continued to ease, mainly due to a further rise in French sales.

The headline Eurozone Retail PMI (Purchasing Managers' Index) edged up to 47.4, from 47.2 in April.

The Eurozone Retail PMI survey covers retailers in the three largest Eurozone economies. May data continued to point to differing trends in monthly sales across Germany, France and Italy. In France, retail sales rose for the second month running, and at a slightly faster rate than in April.

In Germany, sales fell for the twenty-fourth successive month, albeit at a weaker rate than in April. In Italy, sales fell at the fastest rate since February 2009.