German retail sales unexpectedly decline in July

By Mucahithan Avcioglu

ISTANBUL (AA) - Retail sales in Germany dropped 1.5% from a month ago in July, reversing the rise in June, according to official data released on Friday.

The decline came after the 1% monthly rise in June, the Federal Statistical Office (Destatis) data said.

The market expected that the monthly real (price-adjusted) turnover of retail enterprises would not change in July.

Food sales fell 1.8% in July month-on-month, and non-food retail sales dropped 0.7%.

On a yearly basis, however, the retail sales increased 1.9% in July, below market expectations.

Food sales ticked up 0.1% in July year-on-year, while non-food sales climbed 3.5% in the same period.

In e-commerce and mail orders, retail sales recorded a monthly decline of 3.8%, while posting a yearly rise of 13.8% in July.