German Retail Sales Rise Slightly in August

FABIAN BIMMER | September 30, 2019

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German retail sales rose slightly in August, data showed on Monday, helping to allay concerns that a recession in the manufacturing sector is starting to take its toll on a consumption-driven growth cycle in Europe's largest economy. Retail sales were up by 0.5% on the month in real terms after an upwardly revised drop of 0.8% the previous month, data from the Federal Statistics Office showed. The reading matched a Reuters forecast. On the year, retail sales rose 3.2% after an upwardly revised increase of 5.2% the previous month, the data showed. Retail sales are a volatile indicator often subject to revision. Uncertainties linked to Britain's planned departure from the European Union and trade conflicts between the United States and China have plunged Germany's export-dependent manufacturing sector into a recession.

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