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German Retail Sales Fell More Than Expected in September

Adel 30 October, 2020 12:48 pm Market Update

Data on Friday showed that German retail sales fell more than expected in September, dampening hopes that household spending will lead to a strong recovery in Europe’s largest economy in the third quarter after the first wave of the Covid-19 pandemic.

The Federal Statistics Office said retail sales fell 2.2% month-on-month in real terms, after a downward revision of a 1.8% increase in August. This compares with Reuters’ forecast for a decline of 0.8%.

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