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Germany retail sales rebound in August after July plunge

Non-food sales rose 1.6% month over month and online spending climbed 3.7%, helping offset a petrol station pullback tied to the end of a fuel discount.

Reported · Written up by our desk · EM Currencies

Germany retail sales rose 1.3% in August, after a 3.4% month over month drop in July, according to Forexlive. The August result was slightly below the 1.5% gain expected by forecasts.

The pickup was linked in part to the end of a fuel discount that had boosted petrol station sales in May and June, as petrol station sales were flat in August. Non-food sales increased 1.6% month over month, while online spending grew 3.7%.

Even with the rebound, Forexlive said retail sales remain down 0.4% year over year, pointing to an uneven picture for German household spending going into the latter part of Q3. The outlet also noted that the data is unlikely to change the broader focus for markets ahead of the ECB, with this week’s inflation figures in the spotlight.

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