German retail sales down for 4th consecutive month in September

ANKARA

Germany’s retail sales fell for the fourth consecutive month, as persistent inflation and surging borrowing costs continued to dampen consumer demand, according to data released on Tuesday.

The real (price-adjusted) turnover of retail enterprises dropped 0.8% from a month ago in September, following a 1.2% decrease in August, according to Destatis.

The market expected a rise of 0.5%.

Sales of non-food, and internet and mail order trade both dipped 3.7%. On the other hand, food sales grew 2.2%. Compared to the same month last year, retail sales were down 4.3%.

On a yearly basis, retail sales plunged 4.3% in September, Destatis data showed.