RTTNews - Tuesday, Germany's Federal Statistical Office announced that the retail sales in real terms decreased 1% year-on-year in July, compared with a 2% fall in the previous month, revised from 1.6% drop estimated initially. Economists were looking for a decline of 1.2%. A year ago, retail sales were up 1.4%.
On a monthly basis, retail sales increased a calendar and seasonally adjusted 0.7% in July, after falling 1.3% in June, revised from 1.8% decline reported earlier. Retail sales came in line with economists' expectations.
In the January to July period, retail sales dipped 2% compared to the same period of the previous year.
In nominal terms, retail sales decreased 2.3% year-on-year in July, unchanged from the previous month. Month-on-month, retail sales rose 0.1%, following a 1.1% fall in the previous month. For the first seven months of the year, retail sales were down 2% over a year ago.
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