Data published by the Federal Statistical Office (FSO) showed that in October the growth of real retail sales (adjusted for sales days and holidays) slowed to 1.2% per annum compared with +2.6% in September (revised from +2.5%). Economists had expected a 2.2% increase. Meanwhile, on a monthly basis, real retail sales increased by 0.7% after an increase of 0.1% a month earlier.
The data also showed that adjusted for sales days and holidays, in October retail sales excluding service stations fell by 0.1% per annum in real terms. As for sales of food, beverages and tobacco products, they decreased by 2.8% per annum in real terms, while sales of non-food products increased by 2.3% per annum in real terms.
Meanwhile, seasonally adjusted retail sales excluding service stations increased by 0.9% (in real terms) relative to September. Sales of food, beverages and tobacco increased by 1.2% m/m in real terms, while sales of non-food products did not change (in real terms) compared to September.