Wednesday, Germany's Federal Statistical Office announced that the retail turnover in real terms dropped 5.3% year-over-year in February, after falling 1.4% in January. Economists were looking a decline of 1.2%. A year ago, retail turnover was up 3.6%.

On a monthly basis, retail turnover declined 0.2% in February, compared with a 0.9% fall in the previous month. Economists had predicted an increase of 0.3%.

In nominal terms, retail turnover decreased 5.3% in February, after falling 1.4% in January. Month-on-month, retail sales rose 0.2% in February, following a 0.7% fall in January.

For the January to February period, retail sales in nominal terms and real terms dropped 3.3% compared to the same period of the previous year.

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