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Financial News: Denmark Retail Sales Drop In March

Denmark Retail Sales Drop In March

04/27/2020 - 07:38:00 (RTTNews)

(RTTNews) - Denmark's retail sales dropped for the first time in three months in March, figures from Statistics Denmark showed on Monday.

Retail sales fell 2.0 percent month-on-month in March, after a 0.2 percent rise in February.

Retail sales was affected due to the Covid-19 restrictions introduces in the second half of March, the agency said.

Sales of clothing was largely affected by the Covid-19 measures in March, while online commerce and sales of households and computer accessories increased.

Sales of clothing and other goods dropped 26.7 percent monthly in March and sales of other consumables fell 1.0 percent. Meanwhile, sales of food and other groceries rose 1.4 percent.

On an annual basis, retail sales declined 3.7 percent in March, after a 5.5 percent rise in the prior month.

In the first quarter, retail sales fell 0.8 percent, following a 0.2 percent decline in the fourth quarter.

On an annual basis, retail sales grew 1.2 percent in the first quarter.

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