Europe Economy

Euro Zone Retail Growth Slowed in September: PMI


Retail sales growth in the euro region slowed in September, a survey of around 1,000 retail executives showed on Thursday.

The Bloomberg/NTC retail purchasing managers' index (PMI) fell to a seasonally adjusted 50.5 in September, from 51.0 in August, Bloomberg said. A reading above 50 indicates expansion, below 50 contraction.

NTC, which compiles the index, said rising sales in France and Germany were almost entirely offset by a further decline in Italy.

France registered the strongest growth this month, with the index for the euro zone's second-biggest economy rising to 54.2, the highest in five months, from 51.1 in August.

An index for Germany slipped to 51.3 from 53.0 while the Italian gauge slumped to 44.1, the lowest in more than two years, from 47.8, below 50 for a seventh straight month.