German June retail sales, weaker than expected

Retail sales have posted a weaker than expected increase on the month, due to decreases on sales of food, mail sales and non specialized stores, according yto the latest report by the German statistics office, Destatis.

On the month, sales have risen 0.7%, instead of the 1.3% forecasted by the experts, in the last twelve months, however, sales have dropped 0.8%.

Figures from May have been downwardly revised to a 2.5% decrease on the month, from the original -1.8%, and to a 4.2% drop on the year, previously estimated as -3.7%