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Financial News: Amended: Germany's Retail Sales Fall For Third Month

Amended: Germany's Retail Sales Fall For Third Month

04/03/2018 - 02:28:00 (RTTNews)

(RTTNews) - Corrected last paragraph

Germany's retail sales decreased for the third straight month in February, Destatis reported Tuesday.

Retail sales fell unexpectedly by 0.7 percent month-on-month in February, bigger than the 0.3 percent decrease seen in January. This was the third consecutive decline in sales. Sales were expected to grow 0.8 percent.

On a yearly basis, growth in retail sales eased to 1.3 percent from 2.5 percent in January. Economists had forecast sales to grow again by 2.5 percent.

Both retail sales of food, beverages and tobacco and non-food products advanced 1.2 percent each annually in February.

In nominal terms, retail sales fell 0.7 percent on month, while it grew 2.5 percent annually in February.

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