Germany’s retail sales declined unexpectedly in September, provisional data from Destatis revealed on Monday.
Retail turnover decreased 2.5 percent month-on-month in September, reversing a 1.2 percent rise in August. Economists had forecast a monthly growth of 0.6 percent.
On a yearly basis, retail sales declined 0.7 percent, in contrast to the 0.9 percent increase in the previous month. Sales were forecast to advance 1.8 percent.
Sales of food, beverages and tobacco were down 2.2 percent annually, while that of non-food products gained 0.2 percent.
In comparison compared to the pre-crisis month of February 2020, retail sales in September were 3.7 percent higher.
In nominal terms, retail sales decreased 2.3 percent on a monthly basis but grew 1.7 percent from the same period last year.
The material has been provided by InstaForex Company – www.instaforex.com