German retail sales fall more than expected in July

Retail sales fell by 1.5 percent in real terms in July, after a 1 percent increase in June. Analysts had expected retail sales to stagnate month-on-month in July.

Retail sales of food fell by 1.8 percent in July, while non-food products fell by 0.7 percent compared to the previous month.

Annual growth in retail sales slowed to 1.9 percent in July from 4.9 percent in June. Analysts had expected a 2.6 percent increase. Retail sales of food increased by 0.1 percent in July and non-food products by 3.5 percent year-on-year.