German Retail Sales Fell More Than Expected in September

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%.