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Eurozone retail sales fell short of expectations in August

Data on Wednesday showed that retail sales in the euro zone fell short of expectations in August as consumers held back spending on food, beverages and tobacco.

The statistical office of the European Union Eurostat said that retail sales, an indicator of consumer demand, in the 19 countries named in euros increased by 0.3% on a monthly basis in August, unchanged from the previous year.

Economists surveyed by Reuters had expected a 0.8% monthly increase and a 0.4% year-on-year increase.

Eurostat said that sales of food, beverages and tobacco fell by 1.7% on a monthly basis and by 1.9% on an annual basis, which led to a decline in the overall index despite the increase in mail order and ordering via Internet.

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