German retail sales slip in July

Published Sep 1, 2010

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Preliminary data show German retail sales fell 0.3 percent on the month in July - although they were 0.8 percent higher in annual terms.

The monthly dip reported by the Federal Statistical Office Wednesday compared with economists' expectations of a 0.5 percent increase.

The agency didn't disclose what caused the rise, though UniCredit economist Alexander Koch pointed to falling sales of televisions following a World Cup boom as a likely reason.

Sales for the January-July period were up 0.9 percent over a year earlier.

German retail sales figures are frequently revised. Citing methodical changes, the statistical office recently reported first-half sales were up 0.9 percent year-on-year - compared with a 0.4 percent drop initially reported. - Sapa-AP

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