European retail sales declined at a faster pace in May as rising unemployment prompted consumers to hold back spending, the Bloomberg purchasing managers index showed.
The gauge of euro-region sales fell to 47.1 from 48.4 in April when adjusted for seasonal swings. The index has been below the 50 mark, which signals contraction, since June. It is based on a survey of more than 1,000 executives compiled for Bloomberg LP by Markit Economics.
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