Germany’s Retail Sales Grow At Steady Pace In August

Germany’s retail sales logged a steady growth in August, figures from Destatis showed Friday.

Retail sales climbed 2.8 percent year-on-year in August, the same rate of growth as seen in the July. Sales were forecast to rise at a faster pace of 3.2 percent.

Retail sales growth figure for July was revised up from 2.7 percent.

Sales of food, beverages and tobacco increased 2.5 percent and non-food sales advanced 3.1 percent.

Month-on-month, retail sales dropped unexpectedly by 0.4 percent after expanding 1.2 percent in July. Economists had forecast a 0.5 percent rise for August.

During January to August period, retail turnover increased 3 percent from the same period of previous year.
Source: RTT News