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German retail sales drop 1.6% month-on-month in June

German retail sales dropped in June after a sharp rise in May when Germany eased restrictions imposed to stop the spread of the coronavirus, data showed on Friday.

Retail sales fell by 1.6% on the month in real terms after a revised rise of 12.7% in May, data from the Federal Statistics Office showed. A Reuters forecast had predicted a 3.3% drop.

On the year, retail sales rose by 5.9% in real terms after an increase of 3.2% the previous month, the data showed.

Retail sales are a volatile indicator often subject to revision.
Source: Reuters (Reporting by Riham Alkousaa)

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