German retail sales fall in March

BERLIN: 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.