BERLIN Air Vapormax Flyknit Sale , Oct. 31 (Xinhua) -- Retail sales in Germany suffered the biggest monthly drop in over seven years in September, official data showed on Friday, adding to concerns that private consumption might fail to uplift the wavering economy.
Adjusted in calendar, seasonal and inflation fluctuations, retail sales in Europe's biggest economy slumped by 3.2 percent month-on-month in September Air Vapormax Sale , German Federal Statistical Office said.
It was the sharpest drop since May 2007, and led by a fall in sales in textiles and clothes which declined by 7.3 percent in adjusted term in September on August.
The data joined a slew of disappointing signs that German economy, which once led the recovery of euro zone as a powerful engine, was losing its momentum.
German government, following organizations such as the International Monetary Fund and leading economic institutes Nike Vapormax Shoes Sale , has cut its forecast for economic growth this year to 1.2 percent. Previously, the government expected the economy to expand by 1.9 percent.
Official data on gross domestic product (GDP) in the third quarter was scheduled to be released on Nov. 14. German central bank Deutsche Bundesbank expected that the GDP would stagnate or would only improve slightly from the second quarter when German economy contracted by 0.2 percent, following a growth of 0.7 percent at the start of this year.
Weak global growth and geopolitical tensions in Ukraine and Middle East was regarded as main reasons behind Germany's slowdown. Private consumption, which helped guarantee an overall economic growth of 0.4 percent in 2013, was looked to for supporting the growth in 2014 when exports plunged and investment climate was hit by external uncertainties.
German government insisted that German domestic demands remain dynamic Nike Vapormax Mens Sale , referring to stable labour market, increasing wages, moderate inflation and historically low interest rate.
Recent data on consumption, however, showed that the domestic contributor was not immune to negative factors abroad.
Consumers morale in Germany fell for two consecutive months in August and September due to weak economic outlook and just stopped the drop and revived slightly in October.
"The consumer climate has Nike Vapormax Womens Sale , for the time being, escaped the impact of the economic slowdown as a result of the various international crises. Private consumption can therefore continue to play its assigned role as a key pillar of the German economy," said Rolf Buerkl, an expert from market research institute GfK.
"However, if the situation in the crisis areas were to escalate Nike Vapormax Plus Sale , it is likely that the consumer climate will be affected," he said.
NEW YORK, Oct. 21 (Xinhua) -- U.S. crude prices were little changed and ended flat Tuesday as investors were awaiting a crude inventory weekly report of the United States due out Wednesday.
Energy Information Administration (EIA), the Energy Department 's statistical arm, will release its weekly report covering U.S. crude supplies of last week Nike Vapormax Flyknit Sale , which will offer investors a clearer view of the American oil market.
Brent crude for December delivery increased 0.96 percent to close at 86.22 dollars a barrel Tuesday, supported mainly by upbeat data from China.
China's gross domestic product rose 7.3 percent in the third quarter from a year earlier, said the country's National Bureau of Statistics Tuesday, beating the earlier analysts' estimate of 7.2 percent, a sign that demand of fuel in the world's second-biggest oil consuming country remains strong.
On the economic front Nike Vapormax Sale , U.S. existing home sales rebounded in September to their highest annual pace of the year, the National Association of Realtors said Tuesday.
Total existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co- ops Cheap Nike Air Vapormax Shoes , increased 2.4 percent to a seasonally adjusted annual rate of 5.17 million units in September from 5.05 million in August.
Light, sweet crude for November delivery moved up 10 cents to settle at 82.81 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery rose 82 cents to close at 86.22 dollars a barrel.
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