German retail sales for October stronger than expected

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Retail sales in Germany, the biggest European economy, edged up by a higher-than-expected 0.7 percent in October compared to the figure for September, new data showed on Wednesday.

Analysts polled by Dow Jones Newswires had forecast no increase for the indicator which economists agree is very volatile and subject to frequent revisions.

In September, an initial increase of 0.4 percent was revised downwards slightly to an increase of 0.3 percent, the federal statistics office Destatis said.

On Monday, a GfK poll showed that German consumer confidence was holding up in the face of the eurozone debt crisis as rising employment and incomes helped to offset looming recession fears.

© 2011 AFP

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