02.07.201903:17:00UTC+00Germany Retail Sales Growth Slows In May

Germany's retail sales grew at a slower rate in May, data from Destatis showed on Tuesday.

Retail sales climbed 4.0 percent year-on-year in May, after a 4.6 percent increase in April. Economists had forecast a 2.7 percent rise.

Data showed that non-food sales advanced 5.1 percent and food beverages and tobacco sales gained 2.6 percent.

On a month-on-month basis, retail sales fell unexpectedly by 0.6 percent in May, following a 1.0 percent decline in the previous month. Economists had forecast a 0.5 percent rise.

In nominal terms, retail sales dropped 0.4 percent from the previous month, while turnover grew 4.8 percent from the same period last year.