Germany’s retail sales in August were lower than expectations but recorded an improvement on a monthly basis, to achieve a growth rate of 0.5 percent after a decline of 0.2 percent in July, data from the German Federal Statistical Office showed.
Analysts had expected retail sales to grow by 0.8 percent on a monthly basis.
Year-on-year, German retail sales in August were up 0.3 percent, significantly lower than July’s 2.9 percent, and marginally below analysts’ expectations of 0.4 percent.
Gayathri writes about geopolitics and business for International Business Times. She began her career at the Times of India as news coordinator, before moving on to IBTimes...