Bloomberg PMI Signals Further Decline in Euro Retail Sales
The latest Bloomberg Euro-Zone Retail Purchasing Managers' Index ("PMI(R)"), based on a mid-month survey of economic conditions in the euro area retail sector, indicates a continuing contraction in euro-zone retail sales for the third consecutive month. While the PMI rose to a three-month high during August, at 47.7 it remains below the crucial 50.0 no-change mark.