August 30, 2019 / 6:42 AM / 18 days ago

German retail sales decline by more than expected in July

FILE PHOTO: People carry their shopping bags in downtown Hamburg, Germany, January 25, 2018. REUTERS/Fabian Bimmer

BERLIN (Reuters) - Shop sales in Germany fell by far more than expected in July, with customers handing over 2.2% less than in the previous month, the latest in a cluster of signs that Europe’s largest economy is losing steam.

While growth compared to the same period the year before was still solid at 4.4%, the month-on-month decline was far below the 1% fall analysts had expected.

Compared to the year before, internet and mail-order sales had enjoyed the biggest growth, surging 8.4% in real terms.

Reporting by Thomas Escritt

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