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Germany’s retail sales decline for 2nd straight month in March

by ChemOrbis Editorial Team -
  • 30/04/2015 (13:55)
Germany’s retail sales declined for a second straight month in March to post the largest decline in more than a year, according to data released by the Federal Statistical Office of Germany (Destatis). Retail sales decreased 2.3% on a calendar and seasonally adjusted basis in March after falling 0.1% in the previous month. Economists’ initial estimates called for an increase of 0.5% in March.

However, the country’s March retail sales rose 3.5% on the year following a 3.3% gain in February. The country’s yearly March figures also beat economists’ initial estimates, which called for a 3.1% gain. Among the main retail segments, sales for food, beverages and tobacco rose 2.5% year over year in March while non-food sales increased 4.4% from a year earlier.

Meanwhile, Germany’s retail sales increased 3.6% on the year in the first quarter.
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