Eurozone Retail Sales Fall 2.1%

by Jordan Yerman | December 3, 2008 at 07:58 am

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Retail sales in the 15 Eurozone nations fell by 2.1% in October.

Along with the drop in inflation and the invoking of the R-word, the prognosis is grim for Europe's service economy.

Sales across the eurozone declined 0.8% on a month-by-month basis in October, and by 2.1% from a year earlier, more severe than analysts had expected.

A separate business activity survey said output levels had worsened.

The European Central Bank (ECB) is widely expected to cut rates from the current 3.25% level on Thursday.