German retail sales slump on inflation fears
Submitted by William Kaelin on Mon, 09/01/2008 - 09:40.
German retail sales fell for the second consecutive month in July falling by a bigger-than-forecast 1.5 per cent amid concerns about high inflation and deepening economic uncertainty, data released Monday showed.
Analysts had expected monthly seasonally adjusted retail sales data, which was drawn up by the nation's statistics office, to drop by a more modest 0.3 per cent in July. On a yearly basis, retail sales in Europe's biggest economy were unchanged.
The July fall in retail sales was despite a continuing improvement in the German labour market.
However, German consumer confidence fell to the lowest level in more than five years in September, a key forward-looking survey released.
Shares fell 2.1 per cent Friday on the Seoul stock exchange on general recession fears. South Korea's won dropped against the dollar.
When the Spirit rover landed on Mars five years ago, no one expected it or its sister rover Opportunity to make it to their first birthdays, let alone their fifth.
Amelie Mauresmo fell victim to a leg injury after less than half an hour on court Friday to hand over a 4-0 victory which put French compatriot Marion Bartoli into the final of the Brisbane International.
Mumbai-based movie Slumdog Millionaire won five prizes Thursday night at the Critics Choice Awards, cementing its position as a surprise favourite just as the Oscar season moves into high gear.
After the Taipei Zoo received two giant pandas from China, another Taiwan zoo said Friday it is seeking to receive a pair of pandas from China.