German retail sales unexpectedly fall in January

Germany’s retail sales unexpectedly decreased in January as the market had estimated a growth, according to provisional data released by German Federal Statistical Office on Wednesday.

The real (price-adjusted) turnover of retail enterprises in Germany fell 0.6% from a month earlier, following a 5.3% decline in December 2022, Destatis data showed.

Non-food sales decreased by 0.8%, while food sales hiked by 3.1% in the same period.

On an annual basis, the retail trade turnover in real terms slumped by 6.9% in January.

Compared to the pre-pandemic period of January 2020, retail turnover decreased by 0.6% this January.

Source: Anadolu Agency

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