Latest data released by Destatis - 30 August 2019
- Prior +3.5%; revised to +3.0%
- Retail sales +4.4% vs +3.3% y/y expected
- Prior -1.6%; revised to -1.4%
Slight delay in the release by the source. That's a sharp drop following the gain posted in June and it's not exactly encouraging for German consumption activity to begin Q3.
If you're wondering why there is a big difference in the annual retail sales data, it is more of the fact that the annual reading isn't seasonally adjusted so that may explain a bit of why that has improved while the monthly reading - which is seasonally adjusted - is poorer.
