German retail sales increased in May
Instead of the expected stagnation, retail sales in Germany increased in May in a monthly comparison.
The German statistical office, Destatis, announced on Friday that retail sales increased by 0.4 percent in May compared to April. Last month, sales of food products decreased by 1.4 percent, while those of non-food products increased by 0.5 percent.
Compared to May of last year, retail sales decreased by 3.6 percent this May, with a larger 4.3 percent drop compared to expert expectations.
In April, retail sales in Germany decreased by 0.7 percent on a monthly basis and by 4.3 percent year-on-year.
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