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Eurozone retail sales pick up pace in February, PMI data shows

Retail sales in the eurozone picked up month over month in February, though sales were broadly unchanged on an annual basis, according to purchasing managers' data from IHS Markit.

The headline retail Purchasing Managers' Index rose to 52.3 in February from 50.8 in January, reflecting sharper rises in Germany, France and renewed growth in Italy.

"This contributed to a renewed bout of optimism, with the survey's measure of business confidence among the highest over the last year," Alex Gill, economist at IHS Markit, said.

Retailers in the bloc took on more staff members in February as sales increased, but the rate of job creation eased from the prior month. The survey showed upward pressure on purchasing prices.

"Gross margins continued to be squeezed, suggesting business conditions remain challenging," Gill added.