2023.09.2912:37:00UTC+00German Retail Sales Fall Unexpectedly In August

Germany's retail sales declined unexpectedly in August amid weaker demand for both food and non-food items, data from Destatis revealed on Friday.

In real terms, retail sales fell 1.2 percent month-over-month in August after remaining flat in July. In contrast, economists had expected a 0.5 percent gain for the month.

Food sales were down 1.2 percent compared to last month, and those of non-food items dropped 0.7 percent.

Data showed that online sales contracted significantly by 8.7 percent over the month.

On a yearly basis, retail sales decreased 2.3 percent in August, well above the 0.7 percent drop expected by economists.

In nominal terms, retail sales slid 0.8 percent from a month ago, while they increased 2.3 percent from last year.