Germany’s Retail Sales fall by 1.1% MoM in June vs. -0.5% expected

German Retail Sales, a key measure of consumer spending, showed a downside in June. The consumer spending measure fell 1.1% month-on-month (MoM), according to official data released by Destatis, while it was expected to have declined 0.5%. In May, Retail Sales rose by 1.2% (revised from 1.1%)