Germany's retail sales dropped unexpectedly in June from the prior month, data from the Federal Statistical Office revealed Tuesday.
Retail turnover was down 0.1 percent from May, in contrast to a 0.5 percent rise expected by economists. Nonetheless, the rate of decline was slower than the 0.3 percent drop seen in May.
On a yearly basis, retail sales grew 2.9 percent, offsetting last month's 1.1 percent fall. Annual increase far exceeded the consensus forecast of 0.4 percent growth.
During January to June, turnover in retail trade in nominal terms increased 2.8 percent and in real terms 0.7 percent.
by RTT Staff Writer
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