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German retail sales decline by more than expected in July

German retail sales decline by more than expected in July
FILE PHOTO: People carry their shopping bags in downtown Hamburg, Germany, January 25, 2018. REUTERS/Fabian Bimmer -
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BERLIN (Reuters) – Shop sales in Germany fell by far more than expected in July, with customers handing over 2.2% less than in the previous month, the latest in a cluster of signs that Europe’s largest economy is losing steam.

While growth compared to the same period the year before was still solid at 4.4%, the month-on-month decline was far below the 1% fall analysts had expected.

Compared to the year before, internet and mail-order sales had enjoyed the biggest growth, surging 8.4% in real terms.

(Reporting by Thomas Escritt)

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