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German retail sales fall in July

AFP

A view of the roof-top terrace of Berlin's shopping mall Bikini Haus, seen near the landmark Kaiser Wilhelm Memorial Church Gedaechtniskirche, on April 3, 2014A view of the roof-top terrace of Berlin's shopping mall Bikini Haus, seen near the landmark Kaiser Wilhelm Memorial Church Gedaechtniskirche, on April 3, 2014

A view of the roof-top terrace of Berlin's shopping mall Bikini Haus, seen near the landmark Kaiser Wilhelm Memorial Church Gedaechtniskirche, on April 3, 2014A view of the roof-top terrace of Berlin's shopping mall Bikini Haus, seen near the landmark Kaiser Wilhelm Memorial Church Gedaechtniskirche, on April 3, 2014

German retail sales, a closely watched measure of household confidence, fell in July, official data showed on Monday.

German retailers' sales dropped by 1.4 percent in July compared with June, the federal statistics office Destatis said in a statement.

It was the steepest drop since January 2012 and deeper than analysts' expectations.

Retail sales had increased by 1.0 percent the previous month.

On a 12-month basis, however, business increased by 0.7 percent in July compared with the same month last year, the statisticians calculated.

Retail sales data are subsequent to frequent revision.

Date created : 2014-08-29