Germany’s retail sales see 1.6 percent drop in December
(MENAFN) Germany’s retail sales experienced a 1.6 percent drop in December compared to the previous month, marking the largest decline since February 2024, according to data from the country’s federal statistics bureau, Destatis. This decrease followed an upward revision of November’s retail sales, which had initially shown no growth. Market expectations had been for retail turnover to remain unchanged in December, highlighting the unexpected decline.
Food sales in Germany dropped by 1.7 percent in December, contributing significantly to the overall retail sales contraction. Non-food retail sales also experienced a downturn, falling by 0.7 percent during the same period. These declines reflect weaker consumer spending, particularly in non-essential goods, despite an overall increase in retail sales over the past year.
On an annual basis, retail sales rose by 1.8 percent in December, which was below market expectations for a 2.5 percent increase. This growth, while positive, was slower than anticipated, reflecting broader economic challenges that affected consumer behavior. Despite the slowdown, the year-on-year growth in retail sales was still a sign of resilience in Germany's retail sector.
For the entire year of 2024, Germany’s retail sales increased by 1.1 percent compared to 2023. Food retail sales saw a modest rise of 0.7 percent, while non-food retail sales outpaced food sales with a 1.4 percent increase, indicating stronger demand for non-food items in the retail sector.
MENAFN02022025000045015839ID1109157622
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.