August retail sales fell in Germany with almost three percent

German retail turnover in August decreased by a much higher rate than expected. On the basis of the calendar effects adjusted index the decrease was 2.9 percent compared to the previous month.

Analysts expected a 0.1 percent monthly drop. In July, retail sales grew by 0.3 percent, while in June by 4 percent. On the basis of the inflationary effect adjusted real indice; in August retail sales were higher with 2.2 percent ithan a year ago – writes ProfitLine.hu.