Germany July retail sales +1.9% vs 0.0% m/m expected

• Prior -1.6%
• Retail sales -2.6% vs -6.5% y/y expected
• Prior -8.8%

That's a surprise beat on German retail sales and a rather big one at that. The details showed that an increase in food items and groceries helped (after having declined in the past three months) with an increase of 2.1%. Meanwhile, retail turnover on non-food items increased by 0.5% on the month while trade in textiles, clothing, shoes and leather goods posted a moderate increase in sales of 0.6% relative to July.