Retail sales in Germany fell by 5.4% in April compared to the previous month, according to the country’s Federal Statistical Agency (Destatis).
The rate of decline was the highest in the last year. Analysts polled by Trading Economics had, on average, expected a much smaller decline of 0.2%.
In March, the indicator decreased by 0.1%.
The reason for the accelerated decline in sales, experts say inflation, which has a negative impact on consumer spending. Food sales fell a record 7.7% last month. Sales of non-food products decreased by 4.4%, including clothing and footwear – by 4.3%.
Meanwhile, online and mail-order sales increased by 5.4%.
Retail sales in Germany in April compared to the same month last year decreased by 0.4% (after a decrease of 2.7% in March). Experts predicted growth by 4%.
