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One hope is that Germany may start to punch its weight in terms of consumer spending, given that unemployment has fallen appreciably over the last few months and workers are winning wage increases. "The problem is though that in recent years German consumers have always seemed to find some reason not to significantly step up their spending," said Howard Archer, chief European economist at IHS Global Insight. For the wider 27-country EU, which includes non-euro members such as Britain and Sweden, Eurostat said retail sales fell a monthly 0.3 percent in August, which dragged the annual rate of increase down to 0.8 percent from 1.1 percent.
[Associated
Press;
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