Economic Buzz: German retail sales down by 2.5% in July

Retail trade turnover in Germany observed an annual drop of 2.5% in real terms in July, the country's statistical office Destatis revealed in its report published on Tuesday. On the other hand, in nominal terms, the figure increased by 0.3%.

Compared to the previous month, Germany's retail sales declined by 3.4% in real terms and 1.7% in nominal terms.

On an annual basis, retail sales of food products decreased by 0.3% in real terms and advanced 0.2% in nominal terms. On a monthly basis, they dropped by 0.8% and 0.5%, respectively. Non-food retail trade saw an annual fall of 3.4% in real terms and an increase of 0.1% in nominal terms. Monthly, they dipped by 4.8 and 2.5% in real and nominal terms.

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