Latest data released by Destatis - 1 September 2021

  • Prior +4.2%
  • Retail sales -0.3% vs +3.7% y/y expected
  • Prior +6.2%

That is quite the miss on German retail sales in July, which follows a solid bump in June though it has to be taken into context. The high-sales month for June owes much to looser virus restrictions but also the lifting of the 'federal emergency brake'.