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Financial News: Germany Retail Sales Unexpectedly Fall In March

Germany Retail Sales Unexpectedly Fall In March

05/02/2022 - 02:57:00 (RTTNews)

(RTTNews) - Germany retail sales unexpectedly dropped in March, data from Destatis showed on Monday.

Retail turnover was down by real 0.1 percent on a monthly basis in March, offsetting a 0.1 percent rise in the previous month and in contrast to the expected growth of 0.3 percent.

On a yearly basis, retail sales fell 2.7 percent, confounding expectations for an increase of 6.1 percent.

Data showed that retail sales of food grew 2.9 percent from the previous month, while non-food sales fell 2.6 percent. Amid rising fuel prices, retail sales of motor fuel logged a monthly fall of 11.5 percent.

In nominal terms, retail sales gained 2.1 percent on month, taking the annual growth to 3.1 percent in March.

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