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- Germany's retail sales increase much more than forecast in August
Germany's retail sales increase much more than forecast in August
The Federal
Statistical Office (Destatis) reported on Wednesday that Germany's retail sales
climbed by 3.1 percent m-o-m in August, following a revised 0.2 percent m-o-m
decline in July (originally a 0.9 percent m-o-m drop). This represented the
first monthly gain in retail sales since February and was well above economists’
forecast for a 0.5 percent m-o-m advance.
Retail sales of
food, beverages and tobacco rose 2.6 percent m-o-m, while sales in the non-food
retail sector climbed 4.5 percent m-o-m.
In y-o-y terms,
retail sales rose 3.7 percent in August, following a 4.2 percent gain in the
previous month.
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