Mubasher: German retail sales picked up slightly in September, after two months of declines, suggesting that the long boom in Europe’s largest economy may be coming to a close.

Spending by German shoppers rose 0.1% last September, compared with a decline of 0.3% in August, the Federal Statistics Office (Destatis) said.

On an annually adjusted basis, turnover in German retail trade fell by 2.6% in September, marking the sharpest fall since June 2013.

Textile and clothing sector sales saw a year-on-year fall of 9.6% during the month, while food, drink and tobacco sales slid 3%.

The annual sharp drop came following years of rising employment, which fuelled a consumer spending boom which sustained German economy at the time when global demand for exports waned, while a recent rise in inflation heralded turbulence ahead.

Moreover, the fall was partially ascribed to the fact that retail sales in September 2017 were unusually strong, according to analysts.

By 11:58 am GMT, the EUR/USD pair went down 0.02% to $1.1343.