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Retail sales in the Eurozone have been on the decline since 2005. After a bounce in 2009, sales continues to slow and have recently hit lows not seen since the end of 2009. The sharp drop in the last quarter shows that recovery in Europe is clearly far from over. With some countries experiencing 25% unemployment, it makes sense that households aren't spending their money frivolously. 

Europe Retail Sales Slow - image016