German retail sales down 0.2 percent on month, up 2.2 percent on year in August
By APFriday, October 1, 2010
German retail sales slightly lower in August
BERLIN — Preliminary data show that German retail sales were down 0.2 percent on the month in August, although they rose 2.2 percent compared with a year earlier.
The Federal Statistical Office said Friday sales of goods other than food rose by a strong 5.3 percent in year-on-year terms. Sales of cloths and shoes were up 8.4 percent.
The office said total sales from January to August were 0.9 percent higher than a year earlier.
Domestic demand has long been a weak point of Germany’s export-led economy although consumer confidence is rising.
ING economist Carsten Brzeski noted that German retail sales statistics are volatile and often-revised. He said one-time factors such as vacations abroad or worries about the global economic outlook likely hit August sales.
Tags: Berlin, Europe, Germany, Retail And Wholesale Sector Performance, Western Europe