Germany Retail Sales (MoM) below forecasts (0.4%) in July: Actual (-3.4%)

German Retail Sales, a key measure of consumer spending, showed a downside in July. The consumer spending measure fell 3.4% month-on-month (MoM), according to official data released by Destatis, while it was expected to have increased 0.4%. In June, Retail Sales arrived at 0% (revised from -1.1%).