German retail prices on strongest decline since 2007

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Retail sales in Germany shrunk sharply in December. According to figures from the German Federal Statistical Office, retail sales declined by 3.3 percent on a monthly basis, after an adjusted increase of 1.6 percent in November.

It is the strongest decrease since mid-2007. Sales of food, drink and tobacco products decreased. Economists generally expected a decrease of 0.5 percent. On an annual basis, store sales in Europe’s largest economy climbed by 0.8 percent in December, following an increase of 2.8 percent a month earlier.

Over the whole of 2019, German store sales increased by 2.7 percent compared to 2018.

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Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to [email protected]

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