(Reuters) -German retail sales unexpectedly fell in August, the federal statistics office said on Tuesday, led by a decline in online and mail-in orders.
Retail sales decreased by 0.2% in real terms compared with the previous month.
Analysts polled by Reuters had predicted a 0.6% increase on a monthly basis, after retail sales also fell by an upwardly revised 0.5% in July.
“The buying mood was very cool in the middle of summer,” said Thomas Gitzel, chief economist at VP Bank.
Gitzel attributed the overall fall to a decrease in online and mail-in order sales, which were down by 2.0% in August.
Non-food retail also saw a decline of 1.0% on the month, according to the statistics office.
“Many private households are saving out of caution. Concerns about the economic situation are weighin