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German retail sales unexpectedly drop in April

Germany's retail turnover unexpectedly dropped in April from the previous month, according to provisional data released by the country's statistics agency.

Retail sales fell 2.0% in monthly real terms in April after seasonal and calendar adjustments, missing the Econoday estimate of 0.5% growth. Sales in March stalled, after being upwardly revised from a 0.2% drop.

In adjusted nominal terms, sales dropped 1.5% month over month.

On a yearly basis, retail sales grew 4.0% in real terms, after a revised drop of 2.0% in the prior month. Nominal growth reached 4.8%.

The retail turnover from January to April increased 2.2% in real terms from the same period a year ago and 3% in nominal terms.