Germany July retail sales -0.8% vs +0.3% m/m expected

<ul><li>Prior -0.8%</li><li>Retail sales -2.2% vs -1.0% y/y expected</li><li>Prior -1.6%</li></ul><p>Consumption activity in Germany continues to be hurt by high inflation mostly. And this is not a good look for the economy especially with a manufacturing recession and now the services sector flipping over in Q3. The most jarring detail in this report is that while retail food sales is up 6.8% compared to July last year in nominal terms, it is actually down 1.8% in real terms. Talk about the impact of inflation. And that means retail food sales have actually fallen for 25 months in a row now when you look at things through the above metric.</p>

This article was written by Justin Low at www.forexlive.com.