German Retail Sales Rebound Before a Partial Close

German retail sales rebounded more than expected in October, data reported Wednesday, December 2, indicating that consumers supported overall growth in Europe’s largest economy ahead of partial lockdown measures to contain the second wave of the coronavirus pandemic.

The Federal Statistics Office said retail sales rose 2.6% in October on a monthly basis in real terms. This followed an upwardly revised reading for September of 1.9%, and compared to Reuters’ forecast for a 1.2% rise.

On an annual basis, retail sales jumped 8.2%, beating Reuters’ expectations for a 5.9% increase.