German retail sales jump

Published

2 years ago

July 7, 2024

euronews

http://www.euronews.com/ The tills keep ringing in Germany.

In September, retail sales there rose at the fastest pace since June last year.

They were up by 1.5 percent from August, when there was also a slight increase.

The figures are adjusted for inflation and seasonal factors.

That is good news for the German government, which is counting on private consumption to support the economy as exports suffer from the eurozone crisis.

Sales dropped just over three percent from a year earlier, largely because shops were open one day less in September this year.

*French spending inches up*

In France, consumer spending crept higher in September – up 0.1 percent – bouncing back from a 0.8 percent fall the previous month.

The eurozone’s second-largest economy has posted zero growth for the last three quarters through to the end of June and the Bank of France predicts a contraction of 0.1 percent for the third quarter

September’s small rise meant that for the third quarter as a whole consumer spending – the country’s economic motor crept up by 0.2 percent.

The monthly rise was due mainly to an increase in spending on housing furnishings, while spending on food and energy slipped.

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