German Retail Sales Plunge in July

Data on Wednesday showed that German retail sales fell much more than expected in July after two months of increases, in the first indication that a consumer-led recovery in Europe’s largest economy could lose some momentum in the third quarter.

The Federal Statistics Office said retail sales fell 5.1% month-on-month in real terms, after a revised jump of 4.5% in June and a 4.6%increase in May.

Reuters had forecast a 0.9% drop.