Monthly retail sales decreased in July in Germany

By: Trademagazin editor Date: 2020. 09. 02. 11:05

Contrary to expectations, retail sales in Germany did not increase but decreased in July compared to the previous month, cooling hopes that household consumption could lead to a strong economic recovery in the third quarter following the shock caused by the coronavirus pandemic.

According to preliminary data released by the German Federal Statistical Office (Destatis) published on Wednesday, calculated calendar and seasonal effect adjusted, retail sales decreased by 0.9 percent in real terms and by 0.3 percent in nominal terms in July, compared to the previous month. (MTI)