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Financial News: Germany's Retail Sales Fall For First Time In

Germany's Retail Sales Fall For First Time In 7 Months

06/29/2018 - 02:37:00 (RTTNews)

(RTTNews) - Germany's retail sales decreased for the first time in seven months in May, figures from Destatis showed Friday.

Retail sales decreased unexpectedly by 1.6 percent annually in May after climbing 1 percent in April. Sales were forecast to climb 1.9 percent.

This was the first decrease since last October and the biggest fall since February 2017, when sales slid 1.7 percent.

Data showed that food sales climbed 0.7 percent, while non-food sales decreased 3 percent.

On a monthly basis, retail sales decreased by more-than-expected 2.1 percent, reversing a 1.6 percent rise in April. Economists had forecast a 0.5 percent drop.

In nominal terms, retail turnover decreased 1.7 percent on month but increased 0.2 percent from the previous year.

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