Retail sales decreased in Germany

Retail sales in Germany fell more than expected, and at the strongest pace of this year, in July compared to the previous month – as another sign that Europe’s largest economy could slip into recession.

According to preliminary data released by the German Federal Bureau of Statistics (Destatis) on Friday, adjusted for calendar and seasonal changes, retail sales decreased by 2.2 percent in real terms and by 2.1 percent in nominal terms compared to the previous month. (MTI)