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Financial News: Denmark Retail Sales Rise Sharply In May

Denmark Retail Sales Rise Sharply In May

06/25/2020 - 04:54:00 (RTTNews)

(RTTNews) - Denmark's retail sales increased sharply in May, figures from Statistics Denmark showed on Thursday.

Retail sales rose 9.4 percent month-on-month in May, following a 0.4 percent rise in April. In March, retail sales declined 4.4 percent.

In May, a number of retail restrictions were lifted, which means the large centers could reopen, but the space required for the customers was lowered. This reopening of the sectors led to the increase in the retail sales, the agency said.

Sales of clothing increased the most, up 98 percent in May, the agency said. Despite this increase, clothing sales still remain at the level before the measures taken against COVID-19 came into force.

Sales of other consumables gained 8.6 percent and those of food and other groceries rose 3.1 percent.

On an annual basis, retail sales rose 5.3 percent in May, after a 2.7 percent fall in the prior month.

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