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Germany and France’s retail sales dip in September

by ChemOrbis Editorial Team - content@chemorbis.com
  • 31/10/2014 (15:11)
Germany’s retail sales posted the biggest drop on a monthly basis in more than seven years in September, according to data released by the Federal Statistical Office of Germany (Destatis). The Eurozone’s largest economy saw retail sales drop 3.2% in September when compared to the previous month. Economists’ estimates called for a 0.8% decrease in retail sales in September.

On a yearly basis, however, the country’s retail sales climbed 2.3% compared to September of 2013, according to Destatis. For the nine months ending September, annual sales were up 1.3% year over year. For the year to date, the country posted an increase of 4.2% in food, beverages and tobacco sales while sales in textiles, clothing, shoes and leather goods were down 7.3% due to mild weather in the beginning of autumn resulting in weaker demand in the country.

The Eurozone’s second largest economy, France, also ended the third quarter on a weak note as its consumer spending also dropped in September by 0.8% compared to August, according to French statistics agency Insee.
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