German retail sales fall in June, remain in line with expectations

Retail sales in Germany during the month of June fell, remaining largely in line with what markets had expected. However, the indicator maintained a strong momentum on an annual basis, data showed.

Germany’s retail sales fell 0.1 percent in real, adjusted terms in June from May, data released by Destatis showed Friday. On an annual comparison, retail sales expanded by 2.7 percent in real terms, data showed, adding that the month of June had 26 shopping days in both 2016 and 2015.

In the first half of 2016, retail sales grew by 2.3 in real terms, Destatis added. Among the product categories, food, beverages and tobacco sales rose by 3.2 percent on the year, while non-food sales rose by 2.1 percent. As it was in the previous months, selling via the internet by mail order grew at a pace of above average, expanding by 8.3 percent in June compared with the same month last year.

Meanwhile, retail turnover during the first six months of the year grew 2.3 percent from the corresponding period of previous year. Additionally, retail sales are considered as a volatile indicator of economic activity, prone to significant revisions over the period.