- German retail sales fell unexpectedly in January, down 1.6 percent on a monthly basis in real terms, preliminary data showed on Thursday.

The notoriously volatile indicator was up 1.6 percent on an annual basis. Economists polled by Reuters had forecast retail sales to rise 0.5 percent on the month and 0.2 percent on the year.

December retail sales were upwardly revised to a rise of 0.1 percent on the month, from a previously reported decrease of 1.4 percent. On an annual basis sales were also upwardly revised, to a gain of 0.3 percent from a 0.9 percent drop.

(Reporting by Alexandra Hudson and Alice Baghdjian)