FX.co ★ Germany Retail Sales Recover In May

Germany's retail turnover recovered in May driven by non-food sales, data published by Destatis showed on Thursday.

Retail sales grew by real 0.6 percent in May, in contrast to a 5.4 percent fall in April. Economists had forecast a monthly growth of 0.5 percent.

After a significant decline in April, food retailing dropped slightly by 0.6 percent from the previous month. Non-food sales logged an increase of 2.9 percent. Clothing and footwear sales achieved a strong growth of 10.6 percent.

On a yearly basis, retail sales decreased 3.6 percent in May, bigger than the expected fall of 2.0 percent.

In nominal terms, retail sales advanced 2.0 percent from the previous month and by 4.1 percent from the last year.