German retail sales fell unexpectedly on the month in October, but a solid rise on the year strengthened expectations that private consumption will remain a key growth driver for Europe's largest economy in the final quarter of the year, according to media reports.
Retail sales fell 0.4 per cent in real terms in October after stagnating the previous month, the Federal Statistics Office said. Retail turnover in October increased 2.1 per cent in real terms and 2.4 per cent in nominal terms compared with the corresponding month of 2014.German retail sales fell unexpectedly on the month in October, but a solid rise on the year strengthened expectations that private consumption will #
The turnover in retail trade in the first ten months of 2015 in real terms was 2.8 per cent larger than in the corresponding period of the previous year.
German consumers are benefitting from record employment, rising wages and nearly stable prices while low interest rates are giving them little incentive to save and cheap energy is freeing up additional cash for spending. (SH)
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