The February Bloomberg Eurozone Retail Purchasing Managers' Index ("PMI(R)"), an indicator based on a mid-month survey of economic conditions in the euro area retail sector and providing data one month ahead of government issued figures, signaled a near-stagnation in retail sales. At 49.8, below the critical no-change level of 50, the indicator signaled a very marginal drop in sales, and represents an improvement on the marked fall in sales seen in January, when the PMI hit a 23-month low of 47.9.
