Germany, retail sales unexpectedly collapse: -2,8%

Retail sales in Germany worse than expected. Much worse, one might say: Angela Merkel's country in fact saw retail sales decrease by 2,8% in October, at prices adjusted with respect to seasonal and calendar variations. This is what emerges from the preliminary data released today by the Federal Statistical Office Destatis. The sharp decline, which comes after two consecutive months of increases (August and September), took analysts by surprise, who had expected a contraction of just 0,4%.