German retail sales fell -1.6% MoM (vs 0.5% MoM expected) in real terms and -1.2% MoM in nominal terms in May, continuing the decline from April with the largest monthly drop since October 2022.

• The annual increase in sales remained positive at +1.6% real and +2.8% nominal.
• April 2025 retail sales were revised up to -0.6% MoM real and -0.7% nominal (from -1.1% and -1.2%, respectively).
• Food retail sales declined -1.3% MoM real and -0.8% nominal, but rose 0.5% YoY real and 3.4% nominal.
• Non-food retail sales dropped -2.2% MoM real and -1.9% nominal; YoY gains were +2.0% real and +2.4% nominal.
• Online and mail-order sales fell -1.4% MoM both real and nominal, but jumped 9.3% YoY real and 9.2% nominal.