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Financial News: Germany Retail Sales Fall Unexpectedly In June

Germany Retail Sales Fall Unexpectedly In June

07/31/2019 - 02:25:00 (RTTNews)

(RTTNews) - Germany's retail sales declined unexpectedly in June, data from Destatis revealed on Wednesday.

Real retail sales fell 1.6 percent on year in June, reversing a 3.8 percent rise in May. This was the first fall in three months and in contrast to the expected growth of 0.6 percent.

Food, beverages and tobacco sales declined 3.2 percent and non-food sales dropped 0.6 percent in June.

However, on a monthly basis, retail sales expanded 3.5 percent in June, offsetting the last month's 1.7 percent decrease. Economists had forecast a marginal 0.5 percent growth for June.

In nominal terms, retail turnover advanced 3.6 percent in June from the previous month but declined 0.9 percent from the same period of last year.

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