German retail sales up 1.2% in September, beating forecasts

Retail sales in Germany saw a 1.2% month-over-month increase in September 2024, outperforming expectations for a 0.5% decline and building on a downwardly revised 1.2% rise in August.

German retail sales up 1.2% in September, beating forecasts

The non-food sector led the gains with a robust 1.7% jump, driven by higher consumer spending on goods outside of essential food items, while online and mail-order sales also grew by a solid 3.1%.

German retail sales up 3.8% YoY in Sept, reflecting shifts in spending

This growth helped balance a 0.8% decrease in food sales, indicating shifting consumer spending priorities. Year-over-year, retail sales rose by 3.8% in September, accelerating from the 2.2% increase observed in August, as overall retail performance continues to show resilience in the face of broader economic pressures.