German retail sales up 0.4% in August

Turnover in retail trade in Germany increased by 0.4% in real terms on a yearly basis in August, the country's statistical office Destatis noted in its preliminary report on Friday

Turnover in retail trade in Germany increased by 0.4% in real terms on a yearly basis in August, the country's statistical office Destatis noted in its preliminary report on Friday, Qazet.az reports citing Teletrader.

On a monthly level, the figure increased by 1.1%. Both figures came in below market expectations. In nominal terms, turnover was 1.2% up from July, but 2.3% higher annually. In comparison to the pre-crisis month of February 2020, retail turnover in real terms was up by 6.0% in August 2021.

Food, beverages and tobacco product sales dropped 3.4% month-to-month in real terms and were 5.0% lower than the pre-crisis level. Non-food products increased 4.9% for the month and 12.2% above pre-crisis levels. Internet and mail order sales soared 9.0% since July and are 29.8% higher than in February 2020.