Economic news

October retail sales rise quickest in 1.5 years in Germany

Yearly retail sales in Germany perked up the fastest in nearly a year and a half last month, though monthly sales declined for the fourth straight month, with the picture of family expenditures in the EU’s top economy not too clear.

Year-on-year growth in spending by local consumers last month was 5.0%, as the government statistics agency’s data of today said.

Through the past several years customer spending has played a major role in economic expansion, with the country enjoying unprecedented level of employment, big rises in wages and little interest rates, however the July-October period showed a contraction in expenditures, slowing general growth rate.

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