Retail sales in Germany in October fell by 2.8% compared to the previous month, according to data from the Federal Statistical Agency of the country (Destatis). The rate of decline in the indicator became the maximum since the beginning of the current year. Analysts surveyed by Trading Economics expected a decline in retail sales in the month before last by only 0.6%.

Meanwhile, data for September was revised upward. The figure rose 1.6% in September, not 0.9% as previously reported.

Food sales in the Federal Republic of Germany fell 1.2% in October from September and 3.9% year-on-year. Non-food sales fell 4.5%, including a 1.8% decline in clothing and footwear sales. Meanwhile, fuel sales in Germany were unchanged from September.

Compared to the same month in 2021, retail sales in the country decreased by 5% in October after a decline of 0.9% in September. Experts expected a decline of 2.8%