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Economy in Brief

German Retail Sales Show Unexpected Lift
by By Robert Brusca October 31, 2007

German retail sales rose in September with downward revision to the earlier month showing a strong 2.3% rise in real ex-auto sales. The series is up by 5.1% from one year ago, a pretty good Yr/Yr rise. But in the third quarter this gain still only leaves sales up at a 1.4% annual rate. The revival in sales was across the main retail categories. While the rise of 1.4% in the quarter is not very strong it is in line with what exceptions have been for German retailing where the outlook has been set low all year long.

German Real and Nominal Retail Sales
Nominal Sep-07 Aug-07 Jul-07 3-MO 6-MO 12-MO YrAgo New QTR
Retail Ex auto 2.6% -1.3% 0.6% 8.2% 4.8% 2.4% 5.6% 1.7%
Motor Vehicle and Parts #N/A 3.6% 0.9% #N/A #N/A #N/A 15.2% #N/A
Food, Beverages & Tobacco 3.4% -1.2% -0.1% 8.5% 4.7% 1.9% 5.1% -0.9%
Clothing footwear 3.4% 0.2% 0.2% 16.0% 7.3% 14.0% 3.4% 1.4%
Retail Ex auto 2.3% -1.6% 0.7% 6.0% 3.0% 1.4% 5.1% 1.4%
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