Data from German Statistics office, Destatis showed Friday that Germany’s retail sales in February unexpectedly fell by real 2.1 percent year-on-year, reversing January’s revised 2.7 percent increase.
Meanwhile, month-on-month, Germany’s retail sales were up 1.8 percent after declining 1 percent in January. The monthly growth beat analysts’ forecasts for a 0.7 percent increase. A similar faster growth was last seen in August 2014.
Mixed data on Friday sent mixed signals about the health of this sector of Europe’s largest economy. A breakdown of the year-on-year data showed sharp drops in sales of food, drinks and tobacco as well as clothing, shoes and other items such as books and jewelry.
The volatile indicator is often subject to revision, the Federal Statistics Office said. The data follows GfK survey which showed German consumer sentiment unexpectedly fell to its lowest level in five months going into April, partly due to people’s concerns that rising inflation will erode their purchasing power.