German retail sales decreased

Compared to the previous year, retail sales in July fell in Germany instead of the expected rise, however on a monthly basis, German retail sales increased more than expected.

According to the data of the German federal statistics office the Destatis, German retail sales with price adjustment decreased by 1.5 percent in real terms, compared to July 2015. In nominal terms, without a price adjustment, the drop in turnover was 1.2 percent. (MTI)