German retail sales decreased further

Contrary to the expectations in August a decline occured in German retail sales, following the decrease of July. Even the most pessimistic expectations were about only stagnation.

In contrast, the level of monthly sales in August decreased by 0.2 percent, after the 0.4 percent decline of July. The largest decrease occured in the food, alcohol and tobacco sales, where an annual 2 percent decline occured, while in the non-food products category, a more moderate 0.4 percent – reports ProfitLine.hu.