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9/30/2020, 8:01 AM (Source: TeleTrader)
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German retail sales up 3.1% MoM in August

Calendar and seasonally adjusted turnover in retail trade in Germany increased by 3.1% in real terms on a monthly basis in August, the country's statistical office Destatis noted in its preliminary report on Wednesday. Year-over-year, the turnover in real terms rose by 3.7%.

In nominal terms, calendar and seasonally adjusted turnover in retail was 3.4% up from July and 5.2% higher on an annual basis.

Retail sales of food, beverages and tobacco grew 2.6% in real terms and 5.4% in nominal terms in August compared to the same month in 2019, while the non-food retail sector sales advanced 4.5% in real terms and 5.4% in nominal terms on a yearly basis. The internet and mail-order business trade recorded the biggest jump, 23% in real terms and 24.4% in nominal terms, in comparison to August 2019.

Breaking the News / MS