German retail sales fell in January

German retail sales fell unexpectedly in January, data showed on Friday. The volatile indicator, which is often subject to revision, showed retail sales fell by 0.8 percent on the month in real terms, the Federal Statistics Office said.

This followed a revised December figure for unchanged sales from an initial drop of 0.9 percent. The January figure came in sharp contrast to a Reuters consensus forecast for a 0.2 percent rise.

On the year, retail sales edged up by 2.3 percent in real terms, the data showed.

A breakdown of the year-on-year data showed that sales in all branches had risen in January, except for textiles, clothing, and shoes as well as sales at department stores. (MTI)