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.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email firstname.lastname@example.org