German June Retail Sales Decline Unexpectedly

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Monday, Germany's Federal Statistical Office announced that the retail sales in real terms dropped 1.6% year-over-year in June, compared with a 3.7% fall in May, revised from 2.9% decline reported initially. Economists were looking for an increase of 0.9%. A year earlier, retail sales were down 4%.

Month-on-month, retail sales dropped a seasonal and calender adjusted 1.8% in June, after falling 1.3% in May, revised from 0.4% increase estimated initially. Economists had expected an increase of 0.3%.

For the January to June period, retail sales dropped 2.1% compared to the same period of the previous year.

In nominal terms, retail sales dipped 2% year-on-year in June, compared with a 4.1% fall in May, revised from 3.2% drop estimated initially. On a monthly basis, retail sales were down 1.6%, after falling a revised 1.4% in May. During the January to June period, retail sales decreased 2.3% over a year ago.

Monday, Germany's Federal Statistical Office announced that the retail sales in real terms dropped 1.6% year-over-year in June, compared with a 3.7% fall in May, revised from 2.9% decline reported initially. Economists were looking for an increase of 0.9%. A year earlier, retail sales were down 4%. (Market News Provided by RTTNews)