Germany retail sales surprisingly surge in September

Retail sales in Germany rose at a monthly rate of 1.2% in September, after a revised down 1.2% surge in August, the latest data by the Federal Statistical Office showed.

In comparison, a consensus of analyst estimates had pointed to a 0.5% slump.

In September, non-food sales went up 1.7% over the prior month, with sales via Internet and mail rising 3.1%.

In the meantime, sales of food dropped 0.8% month-over-month.

In annual terms, retail sales in Germany went up 3.8% in September, while accelerating from a revised up 2.2% growth in August.

The Euro was last 0.22% weaker on the day against the British Pound, with the EUR/GBP currency pair trading at 0.8355 ahead of Euro Area’s CPI inflation report.