German Retail Sales Fall Unexpectedly

(RTTNews) - German retail sales dropped unexpectedly in October, official data revealed on Friday.

Retail sales decreased 0.3 percent month-on-month, offsetting the 0.3 percent increase in September, Destatis said. Economists had forecast a monthly increase of 0.1 percent.

Retail sales of food products rose 1.2 percent in real terms and non-food retail sector dropped 0.7 percent. Online and mail-order sales declined 0.6 percent in real terms.

However, on a yearly basis, retail sales grew 0.9 percent in October, slightly faster than the 0.8 percent increase in September.

In nominal terms, retail sales dropped 0.1 percent from September but increased 2.4 percent from a year ago.