German Retail Sales Fall Unexpectedly in July

German retail sales declined in July, missing economists’ expectations of an increase

Data released by the German Statistics Office on Wednesday showed that German retail sales fell by -0.9% during the month of July, compared to a decline of -1.9% in the previous June.

On the year, retail sales rose by 4.2% in real terms after an upwardly revised increase of 6.7% the previous month, the data showed. 

Economists have expected that retail sales in Germany will rise 0.5% in July.

The euro is trading at 1.1896 levels, down 0.13% against the US dollar.