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Financial News: Germany's Retail Sales Growth Eases In July

Germany's Retail Sales Growth Eases In July

08/31/2018 - 02:15:00 (RTTNews)

(RTTNews) - Germany's retail sales growth eased more than expected in July, figures from Destatis showed Friday.

Retail sales rose 0.8 percent year-on-year in July, slower than the 2.7 percent increase in June. Sales were expected to grow 1.3 percent. Nonetheless, this was the second consecutive increase.

Data showed that food, beverages and tobacco sales climbed 0.6 percent and non-food sales advanced 0.9 percent in July.

On a monthly basis, retail turnover declined by more-than-expected 0.4 percent, reversing June's 0.9 percent rebound. Economists had forecast a 0.2 percent decrease for July.

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