German retail sales plunge in July, signalling weak start to Q3

  • 9/1/2021
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BERLIN, Sept 1 (Reuters) - German retail sales fell by far more than expected in July after two months of sharp increases, data showed on Wednesday, in a first sign that a consumer-driven recovery in Europe’s largest economy might be loosing some steam in the third quarter. The Federal Statistics Office said retail sales dropped 5.1% on the month in real terms after a revised jump of 4.5% in June and an increase of 4.6% in May. The July reading missed a Reuters forecast for a fall of 0.9%. (Reporting by Michael Nienaber, Editing by Maria Sheahan) Our Standards: The Thomson Reuters Trust Principles.

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