Whilst statistics from the Destatis statistics office last week pointed to a drop in German retail sales of 1.4% in September from August in what was the largest drop in two years, Spain has fared slightly better this week, with a rise of 3.2%.

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Whilst statistics from the Destatis statistics office last week pointed to a drop in German retail sales of 1.4% in September from August in what was the largest drop in two years, Spain has fared slightly better this week, with a rise of 3.2%.

The figures, which were released by the National Statistics Institute cited the annual rate of General Index Retail prices Constant as standing at 3.2%, taking into account the the corrected number of seasonal and calendar effects.

Non-food products showed the highest rate of growth (aside from ‘other’ which grew at 4.4%), whilst household equipment stood at 2.4 and food stood at 2.2.

The monthly variation of the General Index of Retail Trade (ICM) at constant prices between September and August, eliminating seasonal effects and calendar, is 0.6%, which is s is 1.5 points higher than the previous month.