German Retail slump continues

German retail sales fell 0.5 percent in september from the month earlier as the economic downturn continued to affect consumer spending, the federal statiscal office data showed on friday.the statistical office said sales were down 4 percent from a year earlier.retail revenue from food,beverages and tobacco was 2.3 percent lower on the year,while some pharmaceuticals and cosmetics showed a slight decrease.

The number of job cuts on the german labor market remained rather subdued so far,considering the depth of the preceding recession,"Unicredit economist alexander koch said.he added that"the german economy grows again,but private households are still likely to face a consumer recession