Latest data released by Destatis - 2 September 2020
- Prior -1.6%; revised to -1.9%
- Retail sales +4.2% vs +4.1% y/y expected
- Prior +5.9%; revised to +6.7%
Slight delay in the release by the source. Retail sales activity slumped once again in July but relative to a year ago, consumption is still faring better amid the strong rebound in May - likely due to pent up demand.
But as that starts to peter out over the next few months potentially, that may unmask some underlying weakness in domestic demand conditions - which may call into question the strength of the economic recovery in Germany.
