Germany's Retail Sales Annually Decline 2.9% In October

Delivery bottlenecks in retail trade might be reason for decline, statistical office says.

Germany's retail sales declined 2.9% in October, compared to the same month of last year, the Federal Statistical Office data showed on Wednesday.
While the market expectation was a 2% decrease in retail sales on an annual basis, they were down 0.9% in September year-on-year.
"The delivery bottlenecks in retail trade that were reported several times might have been a reason for this decline in turnover," Destatis said in a statement.
On a monthly basis, retail sales in Germany fell 0.3% in October from the previous month in real terms, according to data.
The market estimate was a 1% increase in October, while retail sales dropped 2.5% in September. -