Germany’s retail sales post largest gain of 5 years in Oct
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by Germany’s statistics office Destatis, the country’s retail sales climbed in October and private consumption continued to support German growth.
Data from Destatis showed that retail sales in Germany in October rose by 2.7% from September, posting the biggest monthly growth since June 2011 and surpassing the economists’ forecasts which called for an increase of 1%.
Meanwhile, German retail sales decreased by 1% year-on-year which was attributed to the absence of one shopping day in October 2016 when compared to 2015, data showed.
Data from Destatis showed that retail sales in Germany in October rose by 2.7% from September, posting the biggest monthly growth since June 2011 and surpassing the economists’ forecasts which called for an increase of 1%.
Meanwhile, German retail sales decreased by 1% year-on-year which was attributed to the absence of one shopping day in October 2016 when compared to 2015, data showed.
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