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Portuguese consumers continue to shun the shops

algarveshoppingDisappointed retailers saw sales plummet by -3.5% in March compared to February.

This was the largest drop experienced in any of the eurozone countries. Retail sales throughout the euro area were down on average by 0.8%.

In the last six months in Portugal, January was the only perky month when sales actually rose by a healthy 4.3%. Other months show sales falling off.

But while the picture appears gloomy for retailers in Portugal, sales in March this year were at least nearly 2% higher than they had been in March 2014.

This annual picture was the same for the euro region as a whole, with an increase of 1.6% this March compared to the previous year.

Purchases reached their highest level in early 2008. That was followed by a progression of falls leading to the lowest level in December 2012. Sales have been growing since then but in a series of peaks and troughs.

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