German retail sales decreased in May

Instead of the expected growth, retail sales in Germany declined in May, compared with a year before – the German federal statistics office the Destatis announced on Tuesday.

According to preliminary data, retail sales in Germany declined by 0.4 percent in real terms, in May this year compared to May 2014.

In April the annual growth of retail sales in real terms was 1.1 percent. Analysts expected 2.5 percent increase in May.

Compared to the previous month, retail sales in May, both seasonal and calendar adjusted increased by 0.5 percent in real terms. (MTI)