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Financial News: Germany Retail Sales Recover Unexpectedly In September

Germany Retail Sales Recover Unexpectedly In September

10/31/2022 - 08:28:00 (RTTNews)

(RTTNews) - Germany's retail sales grew unexpectedly in September, official data revealed on Monday. Retail sales increased by real 0.9 percent on a monthly basis in September, reversing the revised 1.4 percent decline in August, Destatis reported. Economists had forecast a 0.3 percent fall.

Food sales were up 2.6 percent on month and non-food turnover advanced 2.4 percent in September. Meanwhile, sales at petrol stations plunged 15.7 percent, the biggest monthly fall on record.

On a yearly basis, retail sales dropped 0.9 percent but slower than economists' forecast of -4.9 percent.

In nominal terms, retail sales grew 1.8 percent on month, taking the annual growth to 9.9 percent in September.

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