Retail sales in Germany unexpectedly rose in September, continuing an upward trend that began in June, although growing at a slower pace, Reuters reported, cited by BTA.
The indicator reports a growth of 1.2 percent compared to the previous month, according to data from the Federal Statistical Office. Analysts polled by Reuters had forecast a drop of 0.5 percent.
Official data showed yesterday that GDP in Europe’s biggest economy rose 0.2 percent in the third quarter from the previous three months, boosted by government and household spending.
The September data and October’s retail business climate index showed that retail sales continued to drive growth in the final quarter of the year.
Meanwhile, the Munich-based Ifo Institute’s (Ifo) business climate index in Germany’s retail trade improved slightly in October, according to the latest surveys. Retailers rate their current situation as slightly better. However, business expectations for the coming months remain almost unchanged and at a low level, the Ifo survey showed.
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