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Financial News: Germany Retail Sales Recover As Expected

Germany Retail Sales Recover As Expected

09/30/2019 - 02:37:00 (RTTNews)

(RTTNews) - Germany's retail sales recovered as expected in August, data from Destatis revealed Monday.

Retail turnover grew 0.5 percent on a monthly basis in August, in contrast to 0.8 percent drop in July. The rate came in line with expectations.

However, on a yearly basis, retail sales growth eased to 3.2 percent from 5.2 percent in July. Nonetheless, this was the second consecutive increase and faster than the forecast of 2.9 percent.

Sales of food, beverages and tobacco advanced 1.7 percent annually and that of non-food products grew 4.1 percent.

In nominal terms, retail sales increased 0.3 percent on month, taking the annual growth to 3.8 percent.

In the first eight months of 2019, retail sales increased 3 percent in real terms and by 3.7 percent in nominal terms.

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