German retail sales edge up 0.4% in September: data

31st October 2011, Comments 0 comments

Retail sales in Germany, the biggest European economy, edged up by a smaller-than-expected 0.4 percent in September compared with August, provisional figures showed Monday.

Analysts polled by Dow Jones Newswires had forecast a more substantial increase of 1.0 percent, but economists agree the indicator is very volatile and subject to frequent revisions.

In August, an initial drop of 2.9 percent was revised upwards slightly to show a decline of 2.7 percent.

Last week, the monthly consumer confidence index calculated by the GfK research institute showed that consumer sentiment is continuing to hold up in face of the eurozone debt crisis and looming recession fears because households believe their income will be unaffected.

© 2011 AFP

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