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CORRECTED: German retail sales slip in March

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(Globalpost/GlobalPost)

Retail sales in Germany showed a slight decrease in March, but did not fall as sharply as analysts had expected, official data showed on Tuesday.

Retail sales fell by 0.5 percent in March compared with February in price, seasonally and calendar-adjusted terms, according to provisional figures by the federal statistics office Destatis.

Analysts surveyed by Dow Jones Newswires had expected a drop of around 0.6 percent this month, following a decline of the same magnitude in February.

On a 12-month basis, however, retail sales were down by 2.8 percent in March, but that was partly because there were two fewer shopping days in March this year than in the same month last year, the statisticians noted.

Monthly retail sales data are volatile and subject to frequent revision.

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http://www.globalpost.com/dispatch/news/afp/130430/corrected-german-retail-sales-slip-march