German retail sales fall more than expected

(Sharecast News) - Retail sales in Germany dropped more than expected in July, registering their sharpest rate of decline in nearly two years, according to data out on Friday from Destatis. Retail sales volumes declined 1.5% last month, more than offsetting a 1.0% increase in June, the Federal Statistical Office said.

This was the biggest monthly slip since August 2030 and much worse than the consensus forecast of -0.4%.

Food sales fell by 1.8% in July, while non-food sales were down 0.7%; meanwhile online sales dropped 3.8%.

Compared with July 2024, sales volumes were up 1.9%, slowing from the 4.9% year-on-year surge in June, missing the 2.6% increase expected.