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Financial News: Germany's Retail Sales Decline Unexpectedly In April

Germany's Retail Sales Decline Unexpectedly In April

05/31/2017 - 02:32:00 (RTTNews)

(RTTNews) - Germany's retail sales decreased unexpectedly at the start of the second quarter, preliminary figures from Deststis showed Wednesday.

Retail sales fell a price-adjusted 0.9 percent year-over-year in April, reversing a 2.9 rise in March, which was revised up from a 2.3 percent gain reported earlier.

Meanwhile, economists had expected a 2.2 percent climb for April.

Retail turnover of textiles, clothing, footwear and leather goods dropped 5.3 percent, while turnover of food, beverages and tobacco grew by 1.3 percent.

On a monthly basis, retail sales edged down 0.2 percent from March, when it rose by 0.2 percent. In contrast, it was forecast to increase by 0.3 percent.

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