Sept. 27 (Bloomberg) -- European retail sales growth slowed in September, led by the sharpest drop in Italy since June 2005, the Bloomberg purchasing managers index showed.
A gauge measuring retail sales slipped to a seasonally adjusted 50.5 from 51 in August. The index is based on a survey of more than 1,000 executives compiled for Bloomberg LP by NTC Economics Ltd. A reading above 50 indicates expansion.
European consumers are more reluctant to increase spending after rising credit costs worldwide and turmoil on financial markets clouded the outlook for economic expansion. In Italy, the government said this week that economic growth will be weaker than expected this year and next.
Will the "idea" of another rate cut make the US consumer less cautious?
A gauge measuring retail sales slipped to a seasonally adjusted 50.5 from 51 in August. The index is based on a survey of more than 1,000 executives compiled for Bloomberg LP by NTC Economics Ltd. A reading above 50 indicates expansion.
European consumers are more reluctant to increase spending after rising credit costs worldwide and turmoil on financial markets clouded the outlook for economic expansion. In Italy, the government said this week that economic growth will be weaker than expected this year and next.
Will the "idea" of another rate cut make the US consumer less cautious?
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