logo
Plus   Neg
Share
Email

German Retail Sales Fall More Than Expected

Germany's retail sales decreased for a second straight month and at a faster than expected pace in January, preliminary figures from Destatis showed Tuesday.

Retail sales fell 4.5 percent month-on-month, which was worse than the 0.3 percent decline economists had expected. In December, sales decreased 9.1 percent.

Sales dropped 8.7 percent year-on-year, while economists had forecast a 1.3 percent gain. In December, sales grew 2.8 percent.

The latest annual decline was the first since April last year, when sales fell 5.6 percent.

These results can be explained by the second COVID-19 lockdown, which led to a partial retail closure starting on December 16, 2020, Destatis said.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT