RTTNews - Wednesday, Germany's Federal Statistical Office announced that the retail sales in real terms dropped 2.9% year-over-year in May, compared with a .03% fall in April, revised from 0.8% decline reported initially. Economists were looking for a decline of 1.5%. A year earlier, retail sales were up 1.4%.
Month-on-month, retail sales increased 0.4% in May, after rising 0.5% in April. Economists had expected an increase of 0.5%.
For the first five months of the year, retail sales grew 2.3% compared to the same period of the previous year.
In nominal terms, retail sales dipped 3.2% year-on-year in May, compared with a 0.4% fall in April, revised from 0.9% drop estimated initially. On a monthly basis, retail sales were up 0.5%, after rising 0.9% in April. During the January to May period, retail sales were up 2.4% over a year ago.
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