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9/2/2020, 8:01 AM (Source: TeleTrader)
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German retail sales up 4.2% in July

Turnover in retail trade in Germany grew 4.2% year-over-year in real terms in July, topping analysts' expectations, the country’s statistical office Destatis said in a report on Wednesday. The figure jumped 5.6% on an annual basis in nominal terms.

Meanwhile, retail sales in real terms adjusted for calendar and season slid 0.9% compared to June's levels, while it was 0.3% lower on a monthly basis in nominal terms.

German retail sales of food, beverages and tobacco strengthened 4.2% in real terms and 7.2% in nominal terms in July compared to the same month in 2019. Non-food retail sector's sales climbed 4.4% in real terms and 5.1% in nominal terms on an annual basis, while internet sales and mail orders surged 15.6% and 16.6% in real and nominal terms, respectively.

Breaking the News / GA