Germany August Retail Sales Decline Less Than Expected

Germany August Retail Sales Decline Less Than Expected


Germany's retail sales decreased at a slower pace in August, and the rate of decline was lower than economists expected, data released by the Federal Statistical Office showed Friday.
Retail sales turnover, in real terms, decreased 0.8 percent on an annual basis in August, a tad slower than the 0.9 percent fall economists had forecast. The latest contraction was also weaker than 1.6 percent seen in July.
Sales of food, beverages and tobacco advanced 0.8 percent year-on-year, while sales of non-food products dropped 1.7 percent.
On a monthly basis, retail sales increased a seasonally adjusted 0.3 percent in August, while economists were looking for a 0.2 percent gain. In July, sales decreased 1 percent sequentially.
In the first eight months of the year, trade in the retail sector edged up 0.2 percent from a year earlier, data showed.