Germany’s retail sales increase at fastest pace since 2011
On a yearly basis, retail sales were up 1.7% in October when compared to a 2.4% increase posted in September. Food, beverages and tobacco sales climbed 1.9% year over year while non-food sales were up 1.5%.
Germany’s economy grew 0.1% on a quarterly basis in the third quarter of this year after posting a decrease of 0.1% in the second quarter, in line with the initial estimates published on November 14. The increase was attributed to a strong rise in consumer spending and higher exports.
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