German retail sales slip in July
Preliminary data show German retail sales fell 0.3%on the month in July, although they were 0.8% higher in annual terms
By Agencies |
BERLIN: Preliminary data show German retail sales fell 0.3 percent on the month in July, although they were 0.8 percent higher in annual terms.
The monthly dip reported by the Federal Statistical Office Wednesday compared with economists' expectations of a 0.5 percent increase.
The agency didn't disclose what caused the rise, though UniCredit economist Alexander Koch pointed to falling sales of televisions following a World Cup boom as a likely reason.
Sales for the January-July period were up 0.9 percent over a year earlier.
German retail sales figures are frequently revised. Citing methodical changes, the statistical office recently reported first-half sales were up 0.9 percent year-on-year, compared with a 0.4 percent drop initially reported.
The monthly dip reported by the Federal Statistical Office Wednesday compared with economists' expectations of a 0.5 percent increase.
The agency didn't disclose what caused the rise, though UniCredit economist Alexander Koch pointed to falling sales of televisions following a World Cup boom as a likely reason.
Sales for the January-July period were up 0.9 percent over a year earlier.
German retail sales figures are frequently revised. Citing methodical changes, the statistical office recently reported first-half sales were up 0.9 percent year-on-year, compared with a 0.4 percent drop initially reported.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
