FOREX TradingCharts.com

Financial News: German Retail Sales Log Biggest Decline Thus Far

German Retail Sales Log Biggest Decline Thus Far This Year

08/30/2019 - 05:32:00 (RTTNews)

(RTTNews) - Germany's retail sales declined at the fastest pace seen so far this year in July signaling weak household spending at the start of the third quarter as the labor market started to loose resilience amid the economic downturn.

Retail turnover decreased a faster-than-expected 2.2 percent month-on-month, reversing a 3 percent rise in June, figures from Destatis revealed Friday. Sales were forecast to drop 1.4 percent.

However, on a yearly basis, retail sales rebounded 4.4 percent after falling 1.6 percent in June. This was the fastest increase in three months.

Food, beverages and tobacco sales advanced 4 percent and non-food sales increased 4.6 percent from last year.

In the first seven months of this year, retail turnover increased 2.8 percent in real terms and 3.5 percent in nominal terms.

The biggest euro area economy is on the verge of a recession as it contracted 0.1 percent in the second quarter due to weak foreign demand, and there are signs that the shrinking continued into the third quarter, strengthening calls for stimulus.

The closely-watched ifo business confidence index fell to its lowest level in nearly seven years in August as sentiment in manufacturing was hurt by escalating trade tensions across the world.

Data released on Thursday showed that unemployment rose for a second straight month in August and underemployment continued to rise, suggesting that the resilience of the labor market against the economic slowdown is gradually weakening.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Bullard Explains Preference For Bigger Interest Rate Cut (02 hr(s), 14 min(s), 56 sec(s) ago)
(RTTNews) - St. Louis Federal Reserve President James Bullard was one of three voting members of t ...Full Story»

Eurozone Consumer Confidence At 4-month High (02 hr(s), 49 min(s), 56 sec(s) ago)
(RTTNews) - Eurozone consumer confidence improved in September to its highest level in four months ...Full Story»

Belgium Consumer Confidence Weakens For Second Month (03 hr(s), 42 min(s), 56 sec(s) ago)
(RTTNews) - Belgium's consumer confidence weakened for a second straight month in September, s ...Full Story»

India Cuts Corporate Tax Rates To Boost Growth (04 hr(s), 40 min(s), 56 sec(s) ago)
(RTTNews) - India's government on Friday announced a reduction in the corporate tax rate to bo ...Full Story»

Finland Current Account Logs Deficit In Q2 (04 hr(s), 50 min(s), 56 sec(s) ago)
(RTTNews) - Finland's current account logged a deficit in the second quarter, Statistics Finla ...Full Story»

Ireland Wholesale Price Decline Slows In August (05 hr(s), 23 min(s), 56 sec(s) ago)
(RTTNews) - Ireland's wholesale prices fell at a slower rate in August, data from the Central ...Full Story»

Slovenia Output Price Inflation Steady In August (05 hr(s), 25 min(s), 56 sec(s) ago)
(RTTNews) - Slovenia's output price inflation stable in August, figures from the Statistical O ...Full Story»

Latvia Producer Price Inflation Slows For Eighth Month (05 hr(s), 24 min(s), 56 sec(s) ago)
(RTTNews) - Latvia's producer price inflation slowed for the eight straight month in August, f ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Bullard Explains Preference For Bigger Interest Rate Cut

09/20/2019 - 10:48 AM (RTTNews)
(RTTNews) - St. Louis Federal Reserve President James Bullard was one of three voting members of t ...Full Story>>

Eurozone Consumer Confidence At 4-month High

09/20/2019 - 10:13 AM (RTTNews)
(RTTNews) - Eurozone consumer confidence improved in September to its highest level in four months ...Full Story>>

Belgium Consumer Confidence Weakens For Second Month

09/20/2019 - 09:20 AM (RTTNews)
(RTTNews) - Belgium's consumer confidence weakened for a second straight month in September, s ...Full Story>>

India Cuts Corporate Tax Rates To Boost Growth

09/20/2019 - 08:22 AM (RTTNews)
(RTTNews) - India's government on Friday announced a reduction in the corporate tax rate to bo ...Full Story>>

Finland Current Account Logs Deficit In Q2

09/20/2019 - 08:12 AM (RTTNews)
(RTTNews) - Finland's current account logged a deficit in the second quarter, Statistics Finla ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.