Denmark Retail Sales Fall 4.4%

(RTTNews) - Danish retail sales declined notably in July after rebounding in the previous month, largely due to lower demand for food products, preliminary figures from Statistics Denmark showed on Monday.

Retail sales fell 4.4 percent month-on-month in July, reversing a 1.2 percent rise in June. Further, this was the biggest drop so far this year.

Sales of food and other groceries alone decreased 8.4 percent monthly in July, followed by a 5.4 percent decline in clothing sales.

On a yearly basis, retail sales slid 5.4 percent in July, in contrast to a 0.9 percent gain in the previous month.

During the May-July period, retail sales declined 1.9 percent annually and contracted 0.9 percent from the previous three months.