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FX.co ★ German Retail Sales Rise For Second Month

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typeContent_19130:::2023-06-30T08:45:00

German Retail Sales Rise For Second Month

Germany's retail sales increased for the second straight month in May amid a increase in non-food sales, figures from Destatis showed on Friday.

Retail sales climbed by a real 0.4 percent on a monthly basis in June, following a revised 0.7 percent rise in May. Meanwhile, economists had expected a flat change for the month.

The overall increase in June was driven by a 0.5 percent gain in non-food sales.

At the same time, food sales declined 1.4 percent, and sales via online and mail order slid by 3.1 percent.

On a yearly basis, retail sales fell at a slower pace of 3.6 percent in June versus a 5.1 percent decrease in May. The expected decrease was 4.3 percent.

In nominal terms, retail sales increased 0.5 percent monthly and advanced 2.8 percent from last year.

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