German Retail Sales Fall Unexpectedly

(RTTNews) - Germany's retail sales dropped unexpectedly in August due to a fall in non-food retailing, data from Destatis revealed on Tuesday.

Retail sales logged a monthly fall of 0.2 percent in August slower than a decrease of 0.5 percent seen in July. But sales were expected to rebound 0.6 percent. Destatis said food sales gained 0.6 percent, while non-food sales declined 1 percent from July.

On a yearly basis, retail sales growth eased to 1.8 percent from 2.9 percent in the previous month.

In nominal terms, retail sales increased 0.1 percent month-on-month and advanced 3.2 percent from the previous year.