German Retail Sales decline 2.7% YoY in February vs. -0.8% expected

Germany's Retail Sales dropped 1.9% MoM in February, slowing from a 0.4% decline in January, according to the official data released by Destatis on Thursday. The data missed the market expectations for a 0.3% increase.

Retail Sales in the Eurozone's biggest economy fell 2.7% YoY in February versus a 1.4% annual drop reported in January, much below the forecast of -0.8%.