German retail turnover decreased

Instead of the expected growth in August, retail turnover in Germany was lower than in the previous month – the Destatis federal statistics agency published on Monday.

In August, retail sales in Germany decreased by 0.1 percent, compared to the previous month, according to the price, calendar and seasonal adjusted data. Markets expected a 0.4 percent increase, after the previous month’s (July) 1.1 percent decline.

On an annual basis, retail sales grew by 1.6 percent in August, compared to the expected 1.5 percent, following a 0.9 percent increase in July. (MTI)