Retail Sales Expected To Grow Over Christmas Despite October Drop

The German retail association, HDE, has said it expects Christmas sales to grow by 1% year-on-year, despite news that sales fell in October due to lower consumer spending.

 Citing a survey conducted after the first of the season's
four shopping weekends, the HDE said sales this year are expected to
grow to E74.7bn, and it believes consumers “are unfazed by the bad
news" related to the economy. It noted that during the first
weekend, premium items such as jewellery and mobile phones with
navigation features were among the most sought-after products.
The
optimistic estimate came despite news that, in October, sales were
down 1.6% month-on-month (adjusted for inflation and calendar
shifts), and were down 1.5% year-on-year.