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German Retail Sales Unexpectedly Fall Further from September to October |
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European Economy |
Written by CEP News |
Dec 01 08 06:08 GMT |
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(CEP News) Frankfurt - German retail sales fell a further 1.6% from September to October, despite expectations of a 0.5% rebound following the previous month's 1.0% slip, the Federal Statistical Office (Destatis) reported on Monday. Meanwhile, September's figure was revised up from an initial estimate of -2.3%.
On an annualized basis, retail sales contracted 1.5% in October, significantly more than the 0.3% decline expected, the statistics office said. September had registered a growth rate of 2.4% year-over-year, revised up from an initial estimate of +1.2%. Written by CEP News European Staff in Frankfurt,
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, edited by Nancy Girgis,
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