German retail sales rise for third straight month

31st Oct 2024 07:58

(Sharecast News) - Retail sales in Germany unexpectedly rose for the third straight month in September, according to data from the Federal Statistical Office.

Retail sales were 1.2% higher over the month in price-adjusted terms, following a revised 1.2% increase in August and a 1.5% gain in July, Destatis reported on Thursday.

Compared with the year before, retail sales growth picked up to 3.8%, from the 2.2% annual gain in August.

Economists had pencilled in a month-on-month reduction of 0.5% over September.

Food sales were down 0.8% during the month, while non-food retail rose 1.7% and ecommerce and mail order sales jumped 3.1%.