May 2, 2019 / 6:26 AM / 22 days ago

German retail sales fall in March

BERLIN, May 2 (Reuters) - German retail sales fell by 0.2 percent on the month in March, due largely to sharp drops in sales of food, drink and tobacco, data showed on Thursday.

A Reuters poll had pointed to a month-on-month fall of 0.4 percent. Sales slipped by 2.1 percent on the year as consumers delayed pre-Easter shopping until April because of the timing of the holiday, Germany’s Federal Statistics Office said.

Household spending has become a key growth driver in recent years as Germans benefit from record-high employment and low borrowing costs, but retail sales are a volatile indicator often subject to revision. (Reporting by Thomas Seythal and Madeline Chambers Editing by Tassilo Hummel)

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