Germany's retail sales annually decline 2.9% in October

By Ovunc Kutlu

ANKARA (AA) - 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.