Business: German retail sales plummet surprisingly sharply
Germans appear to be becoming more restrained in their consumption. Official data show a significant decline in retail sales. Analysts are talking about a "data shock at the start of the week".
German retail sales fell by 1.5% in September compared to the previous month, according to the Federal Statistical Office. This represents a 2.0% decrease in real terms, after economists had predicted a 0.4% growth. The decline was attributed to poor consumer sentiment and a tightening labour market, with analysts warning of a significant sales drop in the current quarter. The German economy grew by 0.2% between July and September.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
