World News

German retail sales fall in December

BERLIN (Reuters) – German retail sales fell more than expected in December, data showed on Friday, suggesting that private consumption in Europe’s biggest economy had run out of steam in the final month of last year.

Retail sales fell by 3.3% on the month in real terms after a downwardly revised rise of 1.6% in the previous month, data from the Federal Statistics Office showed. This beat a Reuters forecast of analysts for a 0.5% drop.

Retail sales are a volatile indicator often subject to revision.

German consumer morale unexpectedly rose in January, the GfK market research group said on Wednesday, suggesting that a partial agreement reached in the U.S.-Sino trade conflict is putting German buyers at ease.

On the year, retail sales rose by 0.8% in December after a downwardly revised rise of 2.7% in November, the data showed.

(Reporting by Riham Alkousaa; Editing by Joseph Nasr)