In October, retail sales in Germany increased for the first time in five months

By: Trademagazin Date: 2023. 11. 30. 11:06

In October, retail sales in Germany increased more than expected and for the first time in five months compared to the previous month, according to the report of the federal statistical office, Destatis, on Thursday. Within the growth of retail trade in October, the turnover of foodstuffs decreased, while that of other articles increased.

According to preliminary data from Destatis, with calendar and seasonal adjustments, retail turnover increased by 1.1 percent in real terms (with price adjustments) in October compared to the previous month, instead of the expected 0.4 percent increase. In September, retail sales decreased by 0.8 percent on a monthly basis. In October, retail sales in Germany increased for the first time in five months on a monthly basis. Without price adjustment, nominal retail turnover increased by 0.7 percent in October compared to the previous month.

Price-adjusted retail turnover in October was still 0.1 percent lower than a year earlier, but nominally exceeded it by 2.6 percent. Destatis notes that the large difference between price-adjusted and nominal turnover reflects the rising price level.