German Retail Sales Unexpectedly Decline In December

BERLIN (Alliance News) - Germany's retail sales declined sharply in December, defying ...

Alliance News 31 January, 2019 | 7:43AM
Email Form

BERLIN (Alliance News) - Germany's retail sales declined sharply in December, defying expectations for further increase, preliminary data from the Federal Statistical Office showed Thursday.

Retail sales fell 2.1% year-on-year, after a 1.9% increase in November. Economists were looking for a 1.5% gain.

The latest decrease was the biggest since a 3% slump in September.

Sales of food, beverages and tobacco decreased 1.5% and non-food sales shrunk 2.7%. Internet and mail order sales also declined in December, down 0.6%.

The monthly decline was much worse than economists had forecast.

After seasonal and calendar adjustments, retail sales tumbled 4.3% from November, when it grew a revised 1.6%. Economists had expected only a 0.5% fall.

For the full year 2018, retail sales grew 1.2%, expanding for a ninth year in row. In 2017, sales had grown just 0.1%.

Copyright RTT News/dpa-AFX

Email Form
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites