August 31, 2018 / 6:41 AM / 20 days ago

German July retail sales fall month-on-month

BERLIN (Reuters) - German retail sales fell unexpectedly in July, data showed on Friday, but the marginal fall is unlikely to raise concerns that consumption will stop propelling growth in Europe’s largest economy.

People walk through the Mall of Berlin shopping centre during its opening night in Berlin, Germany, September 24, 2014. REUTERS/Thomas Peter/File Photo

Retail sales, a volatile indicator that is often subject to revision, fell by 0.4 percent on the month in July in real terms, the Federal Statistics Office said.

Analysts polled by Reuters had forecast a flat reading.

On the year, retail sales rose by 0.8 percent.

Consumption has been the main driver of growth in Germany, whose export sector has been weakening by concerns that trade friction will hurt German manufacturers.

Reporting by Joseph Nasr; editing by Jason Neely

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