Eurozone retail sales bombed in June

Merkel shoppingREUTERS/Christian CharisiusGerman Chancellor Angela Merkel pushes a trolley during a presentation of a RFID Radio Frequency Identification based shop at the METRO Group booth during CeBIT computer fair in Hanover March 9, 2006

Eurozone retail sales missed expectations in June, sinking by 0.6% compared to the previous month.

That leaves sales up just 1.2% compared to the same period last year.

Analysts expected a 0.3% fall in retail sales in June, compared to May, which would have still left them up 1.9% year-on-year.

Eurozone retail sales bounced as the year began, partly driven by the slump in oil prices seen around the world, and economists have debated whether the upswing can continue.

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