In recent economic news from Germany, retailers experienced an unforeseen downturn in sales for the month of February, as reported by Destatis on Thursday.
Sales dropped by 1.9 percent from January, contradicting the predicted increase of 0.3 percent. This represents a year-on-year decline of 2.7 percent in real terms, a more significant fall than the anticipated 0.8 percent decrease forecasted by economists.
In terms of specific sectors, food sales saw a reduction of 1.7 percent from the previous month, while non-food retail sales witnessed a 1.0 percent slump.
Moreover, in nominal terms, February's retail sales fell by 1.8 percent on a monthly basis and by 0.4 percent annually.
