German Retail Sales Rise For Second Month

Germany's retail sales grew for the second straight month in May albeit at a slower pace compared to April, data from Destatis showed Tuesday.

Retail sales turnover advanced 0.5 percent from April, when it was up 1.3 percent. This was the second consecutive increase. Sales were expected to remain flat in May.

On a yearly basis, retail sales dropped 0.4 percent, confounding expectations for a 2.8 percent growth and April's 1.1 percent expansion.

Sale of food products decreased 1.1 percent from last year, while non-food sales gained 0.2 percent.

In the first five months of 2015, overall retail turnover increased 2.4 percent from the corresponding period of last year.

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