German retail sales fell more than expected on a monthly basis in June, declining 0.9 per cent in real terms, data from the Federal Statistics Office showed today.
On an annual basis, sales were up 3.1 per cent, significantly more than expectations. The preliminary figures compared with Reuters consensus forecasts for a 0.2 per cent fall on the month and an annual gain of 1.9 per cent.
The data were based on sales in seven states accounting for some 76 per cent of total retail turnover. In nominal terms, sales fell 1.1 per cent month-on-month and were up 3.8 per cent year-on-year.
Reuters