German Retail Sales Unexpectedly Drop in Sign of Uneven Recovery
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German retail sales unexpectedly fell for a second month in July, signaling an uneven recovery in Europe’s largest economy.
Sales adjusted for inflation and seasonal swings dropped 1.4 percent from June, when they declined 0.8 percent, the Federal Statistics Office in Wiesbaden said today. Economists predicted an increase of 0.6 percent, according to the median of 27 estimates in a Bloomberg News survey. Sales climbed 2.3 percent from a year earlier.