German retail sales decreased

Germany retail sales declined unexpectedly in April – Destatis revealed on Tuesday.

Retail turnover decreased by 0.9 percent in April, compared to March, confounding expectations for a 0.9 percent rise. This was the second consecutive drop in sales.

The turnover had declined 1.4 percent in March and increased by 0.4 percent in February.

On annual basis, retail sales advanced 2.3 percent in April, faster than the 0.6 percent growth seen in March. Sales were expected to grow only 1.7 percent. (MTI)