Germany’s Retail Sales Fall Unexpectedly In January

Germany’s retail sales declined unexpectedly in January, figures from Destatis showed Friday.

Retail sales decreased 0.7 percent month-on-month in January, confounding expectations for an increase of 0.7 percent. Sales had fallen 1.1 percent in December.

On a yearly basis, retail sales grew 2.3 percent, slower than the expected 3.3 percent increase. Nonetheless, the expansion reversed December’s 0.2 percent fall.

Sale of food, beverages and tobacco climbed 1 percent and that of non-food products advanced 3 percent.

In a separate communique, the statistical office said wholesale turnover rebounded 3 percent in the whole year of 2017 following a 0.2 percent drop in 2016.

In the fourth quarter, wholesale turnover rose 2.1 percent from the same period of last year. Turnover in December was down by 1 percent annually compared to 4.1 percent increase in November.
Source: RTT News