German retail sales fall by more than expected in September.
German retail sales fell by more than expected in September, according to figures from the federal statistics office Destatis, underscoring the fragile state of consumer demand in Europe's largest economy.
Source: Sharecast
Retail sales dropped 2.3% year-on-year, against expectations for a 1.1% decline, after a 0.4% fall in August. Analysts had expected a 0.4% increase for the month.
On a monthly basis, retail sales fell 2.0%, reversing the previous month's increase and marking a significantly weaker outcome than economists had anticipated. The data suggest German households remain cautious despite easing inflationary pressures and improving wage growth.
Reporting by Frank Prenesti for Sharecast.com
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