12/1/2021, 8:00 AM (Source: TeleTrader)
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German retail sales drop 2.9% in October

Turnover in retail trade in Germany dived 2.9% in October in real terms compared to the same month a year ago, missing the estimates, according to a report released on Wednesday by the country’s statistical office Destatis. In nominal terms, retail sales were down by 0.4% on the year.

On a monthly basis, adjusted for calendar and seasonal variations, retail sales slid 0.3% in real terms and increased by 0.2% in nominal terms.

The report noted that "delivery bottlenecks in retail trade" are likely the reason for the turnover drop.

Baha Breaking News (BBN) / BU