German retail sales decreased in September

By: Trademagazin Date: 2023. 10. 31. 11:45

In Germany, retail sales decreased in September, both monthly and year-on-year.

The German statistics office, Destatis, said on Tuesday that retail sales fell by 0.8 percent in September compared to August, when a larger monthly decline of 1.2 percent was recorded. The average of expert expectations was 0.5 percent monthly growth for September.

September was the fourth month in a row in which retail trade did not grow, as a result of falling consumer spending due to high inflation and interest rates.

Food sales increased by 2.2 percent in September in a monthly comparison, while sales of non-food products fell by 3.7 percent, and online and mail-order trade also fell by 3.7 percent.