8/1/2022, 8:00 AM (Source: TeleTrader)
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German retail sales down by record 8.8% in June

Calendar and seasonally adjusted turnover in retail trade in Germany fell by 8.8% in real terms on a yearly basis in June, the country's statistical office Destatis noted in its report on Monday. The year-on-year drop in June 2022 was the largest since retail data was first tracked in 1994. Month-over-month, the turnover in real terms decreased by 1.6%.

In nominal terms in June, calendar and seasonally adjusted turnover in retail was 0.5% down from May and 0.8% lower compared to June 2021.

Retail sales of food, beverages and tobacco declined 7.6% in real terms but increased by 1.8% in nominal terms in June compared to the same month in 2021, while the non-food retail sector sales dropped by 11.1% in real terms and by 5.2% in nominal terms. The internet and mail-order business trade plummeted 15.5% in real terms and 10.7% in nominal terms, in comparison to June 2021.

Baha Breaking News (BBN) / MS