Germany's Retail Sales Down By 1.5 Percent In July

September 2, 2008 1:17 p.m. EST

Berlin, Germany (AHN) - Germany's retail sales slipped for the second straight month in July, down by 1.5 percent. The poor performance of retail was reported amid concerns over high inflation and a slowdown of Europe's largest economy.

When compared to June, Germany's July retail sales figure declined by 0.3 percent. But when placed side-by-side with July 2007 data, the growth was flat.

The retail sales data was based on figures from seven German states which comprise 76 percent of the country's retail sales.