German retail sales recover in May

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Eurozone inflation
Spining

Germany’s retail sales recovered in May driven by the easing of restrictions related to the coronavirus pandemic, data published by Destatis revealed on Thursday.

Retail sales grew 4.2 per cent month-on-month in May, in contrast to a 6.8 per cent decrease in April.

But this was slower than the 5 per cent increase expected by economists.

On a yearly basis, retail turnover was down 2.4 per cent, in contrast to April’s 5.1 per cent rise.

In nominal terms, retail sales gained 4.5 per cent on month but dropped 0.6 per cent from the same period last year.

Food, beverages and tobacco sales dropped 2.9 per cent annually and non-food turnover decreased 2.2 per cent.

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