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Germany’s retail sales increase at fastest pace since 2011

by ChemOrbis Editorial Team - content@chemorbis.com
  • 28/11/2014 (14:48)
Germany’s retail sales increased at the fastest pace since June, 2011, according to preliminary data released by the Federal Statistical Office of Germany (Destatis). The country’s calendar and seasonally adjusted retail sales rose 1.9% month over month in October after falling 2.8% in the previous month.

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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