European retail sales rose in February

For the first time in five months gauge of sales growth in the euro region rose to a seasonally adjusted 52.4 from 48.1 in January. That's the fastest growth rate since April 2007.The index is based on a survey of more
than 1,000 executives compiled for Bloomberg News by NTC Economics
Ltd. Growth in European service industries accelerated more than
economists forecast in February, German business confidence
unexpectedly rose for a second month and unemployment is at an
all-time low.

In Germany, Europe's largest economy,
retail sales rose for the first time since September. France had the
biggest gain since June 2006. In Italy, retailers reported a drop in
sales for a 12th month.

European retailers were the most
confident about future sales since May 2007, even after missing sales
targets in February, NTC said. A gauge measuring expectations for the
month ahead jumped to 59.9 from 47.7.

A gauge measuring employment growth
among European retailers rose to 51.1 from 50.7 in January, as French
retailers increased staff levels at the fastest rate since July 2006.

For the Bloomberg retail indicator, NTC
recruited a panel of companies in Germany, France and Italy, which
together make up 80 percent of total euro-area retail sales by value.
The panel includes large chain retailers as well as smaller stores.