Markit Economics released its retail purchasing managers' index (PMI) for Germany on Thursday. Germany's retail purchasing managers' index (PMI) declined to 52.4 in October from 54.0 in September.

The decline was driven by a drop in gross margins.

"German retailers reported further moderate, although unspectacular, growth of sales during October, with the headline PMI falling to an eight month low. A worry is that the rate of growth failed to accelerate despite retailers offering promotional sales," an economist at Markit, Oliver Kolodseike, said.