- Prior +0.8%
- Retail sales -3.6% vs -4.3% y/y expected
- Prior -4.3%
Despite the beat above, German retail sales is still rather subdued when you look into the details. In real terms, retail sales are still down 3.6% compared to the same period last year as opposed to the nominal reading - which shows a 2.8% increase. A lot of that has to do with a divergence in the value of retail sales in groceries though (can anyone say inflation?):
