Retail

German July Retail Sales Fall Month-To-Month

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German retail sales fell unexpectedly in July, data showed on Friday, but the marginal fall is unlikely to raise concerns that consumption will stop propelling growth in Europe's largest economy.

Retail sales, a volatile indicator that is often subject to revision, fell by 0.4% on the month in July in real terms, the Statistisches Bundesamt (Federal Statistics Office) said. The number of days open for sale was 26 in July 2018 and in July 2017.

Analysts polled by Reuters had forecast a flat reading.

On the year, retail sales rose by 0.8%.

Consumption has been the main driver of growth in Germany, whose export sector has been weakening by concerns that trade friction will hurt German manufacturers.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

 

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