Financial News: Dutch Retail Sales Growth Hits 7-Month High

Dutch Retail Sales Growth Hits 7-Month High

05/01/2024 - 02:57:00 (RTTNews)

(RTTNews) - The Netherlands' retail sales grew at the fastest pace in seven months in March, largely driven by higher demand for non-food products, according to data published by the Central Bureau of Statistics on Wednesday.

Retail turnover adjusted for shopping days grew 4.8 percent annually in March, faster than the 3.7 percent increase in February. Sales have been rising since March 2021.

Further, this was the strongest rate of growth since August 2023, when sales had risen 5.8 percent.

Sales of non-food products advanced at a faster pace of 6.2 percent annually in March, and food sales climbed by 2.3 percent. Data showed that online retail sales were 2.3 percent higher compared to last year.

On an unadjusted basis, retail turnover increased 3.9 percent annually in March.

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