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Germany’s retail sales rise less than expected in Nov

by ChemOrbis Editorial Team -
  • 07/01/2016 (11:59)
According to data released by Germany’s statistics office Destatis, the country’s retail sales rose by a smaller than expected amount in November, increasing by 2.3% on a seasonally and calendar adjusted basis compared with a revised yearly gain of 2.5% in October. Economists’ initial expectations had called for a gain of 3.7%. November’s figure also marked the weakest growth rate since August, when sales rose 2.2%.

Retail sales for the food, beverages and tobacco segment rose 2.4% on the year while sales for non-food products climbed 2.3% in November.

Destatis’ data also showed that retail sales edged up 0.2% in November from a month earlier, posting the strongest growth since July. Although November’s monthly figured represented a rebound after the decrease of 0.1% seen in October, sales fell below economists’ expectations, which called for a gain of 0.5%.

In the first eleven months of 2015, meanwhile, Germany’s retail sales expanded 2.8% when compared to the same period of 2014.
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