German retail sales down 1.6% in June - Breaking The News
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German retail sales down 1.6% in June

EPA-EFE/ARMANDO BABANI

Turnover in retail trade in Germany fell 1.6% in June in real terms compared to the same timeframe in 2022, the Federal Statistical Office (Destatis) shared in its report on Monday. Compared to the month prior, retail sales in real terms declined 0.8%.

In the first half of 2023, retail sales slid 4.5% year over year in real terms but gained 3.6% in nominal terms. Food retail sales in the reported period tumbled 5.8% in real terms and jumped 7.6% in nominal terms. When it comes to non-food retail sales in the first six months, in real terms, they lost 3.6% on an annual level, while increasing 1.1% in nominal terms.

Meanwhile in nominal terms, turnover in retail trade in June saw an annual increase of 4.3% but a monthly decrease of 0.5%.

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