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Updated · investinglive.com · Aug 3Germany Retail Sales Slump 1.1% in June as Food and Non-Food Spending Falls
1 articles · Updated · investinglive.com · Aug 3Summary
- Germany's retail sales fell 1.1% in June from May, far worse than the 0.1% decline expected and reversing May's revised 1.2% gain.
- Food sales dropped 1.4% and non-food sales fell 1.0%, driving the broader weakness even as petrol station sales still rose 2.1% in real terms.
- May's rebound had already been flattered by a fuel discount in place from May 1 to June 30, which helped lift petrol station sales 3.5% that month.
- The June setback leaves Germany's retail picture subdued, though first-half real retail sales were still up 0.7% from a year earlier.
Insights
With German retail unexpectedly plunging, could the sudden end of temporary fuel discounts trigger a deeper economic freeze this summer? As traditional shopping stalls, why are cautious German consumers secretly pouring millions into plant-based alternatives and cloud kitchens instead?