Retail sales in Germany fell 0.3 percent last year
The German Federal Statistical Office (Destatis) reported that real retail sales in Germany decreased by 0.3 percent last year.
Destatis announced provisional data for November and 2022 on retail sales.
As a result, seasonally and calendar adjusted real retail sales increased 1.1 percent in November compared to the previous month. Sales fell 5.9 percent compared to November 2021.
While demand for food, beverages and tobacco products was low in November ahead of holiday shopping, retail sales of these products were down 1.3 percent in real terms compared to November 2021.
RECORD SALES IN 2022 THANKS TO INCREASED PRICES
According to main data from Destatis, real retail sales decreased by 0.3% in 2022 compared to the previous year.
Nominally, retail sales were recorded in 2022 at a record level, up 8.2 percent from the previous year.
In the Destatis statement, it was said that the difference between the nominal and real retail sales data reflects the high price increases.
Despite sales campaigns like “Legendary Friday” and “Cyber ​​Monday,” it was notable that there was an 8.1 percent decline in online and mail order last year.
Sharp increases in energy and food prices in Germany have suppressed private consumption for months. (AA)
Source: Sozcu
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