Destatis released its retail sales for Germany on Monday. German adjusted retail sales rose 1.4% in July, beating forecasts of a 1.0% gain, after a 1.0% drop in June. It was the biggest rise since October 2014.

June's figure was revised up from a 2.3% decline.

On a yearly basis, German retail sales jumped 3.3% in July, exceeding expectations for a 1.9% gain, after a 5.2% rise in June. June's figure was revised up from a 5.1% increase.

Sales of non-food products increased at an annual rate of 3.1% in July, while sales of food products climbed by 2.6%.