German retail sales drop ahead of Christmas season
October’s fall of 1.9% in real terms was the biggest since December last year
On the year, retail sales rose by 0.8 per cent in October after a 3.4 per cent rise in September, the data showed.
German retail sales fell in October, data showed on Friday, suggesting that private consumption in Europe’s largest economy took a pause for breath before the Christmas shopping season.
Retail sales fell 1.9 per cent on the month in real terms after a revised reading of no change in the previous month, data from the Federal Statistics Office showed. October’s fall was the biggest since December last year.
Retail sales are a volatile indicator often subject to revision. The Ifo economic institute said on Monday it expected a “very good Christmas”.
On the year, retail sales rose by 0.8 per cent in October after a 3.4 per cent rise in September, the data showed. – Reuters