Germany’s Retail Sales Rise More Than Forecast

Germany’s retail sales grew more than expected in September, figures from Destatis revealed Monday.

Retail sales increased 4.1 percent year-on-year in September, the biggest in four months. Economists had forecast sales to rise 3.2 percent following the revised 3 percent increase in August.

Retail sales growth figure for August was revised up from 2.8 percent.

Sales of food, beverages and tobacco advanced 2.2 percent and non-food sales climbed 5.8 percent in September.

On a monthly basis, retail sales rebounded 0.5 percent after falling for two straight months. Sales had decreased 0.2 percent in August and 0.5 percent in July.

Nonetheless, the monthly growth was slightly slower than the forecast of 0.6 percent in September.
Source: RTT News