German retail turnover decreased on an annual basis, but increased on a monthly basis in November

Analysts had expected a smaller drop of 2.8 percent

The German Federal Statistical Office (Destatis) announced on Friday that, calculated with calendar and seasonal adjustments, retail turnover fell by 5.9 percent in real terms, but increased by 4.8 percent in nominal terms year-on-year.

Analysts expected a smaller drop of 2.8 percent in real terms for November after the 5 percent drop in turnover in October. On a monthly basis, retail sales increased by 1.1 percent in real terms and by 1.3 percent in nominal terms in November. Experts expected a slightly smaller, 1 percent increase in real terms for November after the 2.8 percent decrease in October.

MTI