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Financial News: German Retail Sales Fall More Than Expected In

German Retail Sales Fall More Than Expected In September

10/30/2020 - 03:14:00 (RTTNews)

(RTTNews) - Germany's retail sales declined more than expected in September, data from Destatis revealed Friday.

Retail sales fell by real 2.2 percent month-on-month, in contrast to a 1.8 percent rise in August. Economists had forecast a monthly decrease of 0.8 percent.

Year-on-year, growth in retail sales more than doubled to 6.5 percent from 3 percent a month ago. Sales were forecast to climb 6.6 percent.

Food, beverages and tobacco sales advanced 6.8 percent and non-food product sales rose 6.5 percent.

Compared to February, the month before the outbreak of the corona pandemic in Germany, sales in September were calendar and seasonally adjusted in real terms 2.8 percent higher, Destatis said.

In nominal terms, retail sales dropped 2.6 percent on month but grew 7.7 percent annually in September.

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