German retail sales unexpectedly fell sharply in October
Retail sales in Germany fell much more than expected in October, according to Thursday’s report by the German Federal Statistical Office, Destatis.
In October, with calendar, seasonal and price adjustments, retail businesses in Germany had 2.8 percent less turnover than the previous month. In September, the monthly increase was 1.2 percent, and for October, the market expected a smaller than actual decrease of 0.6 percent.
Compared to the same month of the previous year, October 2021, the turnover of the retail sector decreased by 5.0 percent in real terms instead of the expected 2.8 percent annual decrease. In September, retail sales in Germany decreased by 0.9 percent on an annual basis.
Nominally, i.e. without price adjustment, in October retail sales decreased by 1.7 percent compared to the previous month, and on an annual basis it increased by 6.2 percent. The difference between nominal and real values reflects the large price increase in the retail sector.
MTI
Related news
Aldi Süd Opens Mixed-Use Property Near Karlsruhe
Discounter Aldi Süd has developed a mixed-use property in Waldbronn…
Read more >Full-time jobs in retail sector are in demand
Retailers are seeing increased interest from job seekers looking for…
Read more >Germany’s REWE to open a vegan store this spring
According to a report published on Plant Based News, REWE…
Read more >Related news
GVH: The postponement of certain amendments to the Competition Act is justified
The Economic Competition Authority (GVH) agrees with the postponement of…
Read more >We mostly stock up on sandwich ingredients
Baked goods, cold meats, ham, salami and some kind of…
Read more >Eisberg’s campaign to encourage healthy eating has started
We should consume at least five servings of vegetables or…
Read more >