World Economy

Europe Grocery Sales Increase

Europe Grocery Sales IncreaseEurope Grocery Sales Increase

European grocery sales rose the least on record in the second quarter amid a UK price war and sluggish consumption in Germany and France, a study showed, Bloomberg reported. The amount spent on household goods increased by 0.8% from a year earlier, researcher Nielsen said in a report Wednesday. That’s about half the growth achieved in the first quarter, said Nielsen, which began recording the data in 2008. Europe has come to depend on private consumption for economic growth as the uncertainty around Brexit weighs on exports. Eurozone expansion slowed to 0.3% in the three months through June and European Central Bank President Mario Draghi has held out the prospect of more stimulus if a slowdown weighs on inflation.