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Europeans shop till they drop in February

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By Robert Hackwill
Europeans shop till they drop in February

European consumers continue to spend according to the latest figures for retail sales in February, which showed a larger-then-expected increase especially in clothing as shoppers splurged more than usual on new looks for 2017.

Higher inflation does not appear to have dampened people’s eyes for a bargain, and in the 19 euro area nations sales jumped by 0.7 percent, more than the half a percent forecast.

Growth figures for January were also revised up, reversing a previously-thought contraction for the month-on-month figures. Year-on-year growth was revised up to 1.5 percent.