German retail sales fall sharply
Germany's real retail sales declined 2.0% month over month, significantly missing market expectations for a 0.4% increase. The downturn followed a 1.3% rise in the previous period, signaling renewed weakness in consumer spending and domestic demand.
On an annual basis, real retail sales fell 2.3%, marking a sharper contraction than the previous 0.4% decline. Weakness in both monthly and annual figures could raise concerns about Germany's economic growth outlook. Slower consumer spending may also influence expectations for European Central Bank (ECB) monetary policy.
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