German retail sales rebounded in October, rising at their fastest pace in about three years thanks to a solid labour market and higher wages, data released Friday showed. According to dpa, retail sales in Europe's biggest economy jumped by a more-than-forecast 1.9 per cent in October from September, when they slumped by 2.6 per cent, the Federal Statistics Office (Destatis) said. The strong pickup underlines the key role that private consumption is playing in driving German economic growth. Analysts surveyed by dpa-AFX had forecast a 1.5-per-cent rise. October retail sales were 1.7-per-cent higher than in the same month last year.
