Monday, the German Federal Statistical Office announced that the retail turnover in real terms declined 1.5% year-over-year in March, after falling 6.2% in February. Economists were looking a decline of 0.4%. A year ago, retail turnover was down 7.5%.

On a monthly basis, retail sales declined a seasonally and calendar adjusted 1% in March, after a nil growth in the preceding month. Economists had predicted an increase of 0.2%.

In Nominal terms, retail sales dropped 1.8% year-on-year in March, after falling 5.8% in February. Month-on-month, retail sales dipped 1.4% in March, in contrast to a 0.3% increase in the previous month.

For the January to March period, retail sales decreased 3.2% compared to the same period of the previous year. During the period, retail sales dropped 3.1% nominally.

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