Germany May retail sales +13.9% vs +3.5% m/m expected

Latest data released by Destatis – 1 July 2020
– Prior -5.3%; revised to -6.5%
– Retail sales +3.8% vs -3.2% y/y expected
– Prior -6.5%; revised to -6.4%
Slight delay in the release by the source. That is quite the rebound in retail sales just weeks after lockdown restrictions were lifted in the country. The headline is encouraging