Retail business in the single currency area continued to worsen during May, according to the Bloomberg Euro-Zone Retail Purchasing Managers' Index ("PMI(R)"), based on a mid-month survey of more than 1,000 executives in the euro area retail sector issued one month ahead of government-issued figures. Remaining below 50.0 and signaling contraction of monthly sales, the seasonally adjusted PMI registered 47.1 in May. The decline in the index from 48.4 in April pointed to a slightly faster rate of decline.