German retail sales down more than expected ...News

Growing inflation pressure is weighing on purchasing power across the EU’s largest economy German retail sales posted a month-on-month decline of 1.3% in August, official data released on Friday by the Federal Statistical Office (Destatis) shows. The figure followed a downwardly revised 0.7% rise in July and came in worse than the consensus forecast of a 1.1% decline. Retail trade recorded a 4.3% decrease in turnover in real terms compared to August 2021, according to Destatis. Meanwhile, retail food sales were down 1.7% on the month and 3.1% on the year, the lowest figure in more than five years. The latest data

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