Eurozone retail sales drop

According to estimates from Eurostat, in July compared with June, the seasonally adjusted volume of retail trade decreased by 0.6% in the euro area (EA19) and by 0.5% in the EU28.

In June, the retail trade volume increased by 1.2% in the euro area and by 1.3% in the EU28.

In July compared with July last year, the calendar adjusted retail sales index increased by 2.2% in the euro area and by 2.6% in the EU28.

Read more: Eurozone retail sales drop | New Europe

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US Economy: Is the party over ? Wall Street falls in broad decline, Apple weighs - retail disappoints

US stocks fell in a broad decline on Monday, with the S&P 500 suffering its biggest one-day drop in more than a month, as economic data indicated weakness across the globe and the holiday shopping season got off to a tepid start.

The day's losses were broad, with eight of the ten primary S&P 500 sectors lower on the day. Industrials were the day's biggest decliners, pressured by manufacturing data that still pointed to sluggish demand.

Apple was one of the biggest weights on the session, falling 3.2 per cent to $US115.07 in its biggest one-day decline since September. It tumbled shortly after the open in its largest one-minute volume in more than a month in what some traders deemed a "mini-flash crash."

Growth in the US manufacturing sector slowed for a third straight month in November, decelerating to its most sluggish since January, according to Markit. The ISM report also showed a slowing pace of growth, though it was stronger than expected

Read more: Wall Street falls in broad decline, Apple weighs

EMU: Retail revivals show that Europe is on the mend - by Dominique Vidalon and Emma Thomasson

Quarterly sales at two of Europe’s biggest retailers, Carrefour and Metro, showed turnaround efforts in their home markets starting to bear fruit and signs the region’s long-suffering economy is at last on the mend.

European store groups have had a torrid few years, hit by a squeeze on disposable incomes from a prolonged economic downturn and cut-throat competition from the rise of online shopping.

Carrefour, which has particularly suffered from its focus on out-of-town megastores, said on Thursday hypermarkets in its main French market had returned to underlying sales growth for the first time in five-and-a-half-years, helped by its drive to cut costs, improve price competitiveness and revamp stores.

Germany’s Metro, which has also been restructuring, said it was growing again in its home market of Germany and was upbeat for the key Christmas period despite a blow to third-quarter sales from volatile foreign exchange rates.

As well as reflecting self-help measures, the results add to signs the eurozone economy is returning to life after years in the doldrums.

Retail sales in the 17-country EMU bloc rose more than expected in August.

But the stronger performances at Carrefour and Metro contrast with results this month from Britain’s Tesco, where plunging profits in Central and Eastern Europe blew a hole in its recovery plan.

Carrefour, the world’s second-largest retailer by sales behind US group Walmart, said it made third-quarter sales of €21.11bn ($28.48bn), representing like-for-like growth of 3.1%, excluding fuel.

Read more: Retail revivals show that Europe is on mend | Europe | BDlive