Economic Indicators
German Retail Sales Post Surprising Bounce in September
2022.10.31 04:03
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© Reuters.
By Geoffrey Smith
Investing.com — Retail sales in Europe’s largest economy posted a surprising recovery at the end of the third quarter, helping it to avoid an early slide into contraction.
rose 0.9% on the month, well above forecasts for a drop of 0.3%, according to the Federal Statistics Office Destatis. August’s figures were revised down slightly to show a drop of 1.4%, rather than the 1.3% originally reported.
Consequently, were down only 0.9% from a year earlier, adjusted for and calendar effects. That’s considerably stronger than the 4.9% drop forecast and a surprising show of strength from an economy that has been under pressure from sky-high energy prices almost all year.
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