Germany Retail Sales Fall Sharply In December

RTTNews | 889 days ago
Germany Retail Sales Fall Sharply In December

(RTTNews) - Germany's retail sales declined sharply in December suggesting weak consumer spending even during the Christmas season, data published by Destatis revealed Tuesday.

Retail sales plunged 6.4 percent in December from the last year, much faster than economists' forecast of -1.8 percent.

On a monthly basis, retail turnover decreased 5.3 percent, in contrast to the 1.9 percent increase in November and the 0.2 percent rise economists' had forecast. Online and mail order sales also recorded a real drop of 3.8 percent compared to the previous month and 7.2 percent compared to the same month last year.

In the year 2022, retail sales decreased by real 0.6 percent from the previous year.

While real sales increased 3.1 percent annually in the first half of year, they fell significantly by 4.1 percent in the second half of the year. The annual decline was driven by higher inflation. Moreover, retail trade achieved record sales in 2021.

In 2022, food sales posted its record fall of 4.6 percent. On the other hand, non-food sales grew 2.0 percent, which was the highest turnover since the series began in 1994.

Sales in textiles, clothing and footwear registered the biggest annual increase of all the retail sectors, with real rise of 27.0 percent.

The largest euro area economy contracted 0.2 percent in the fourth quarter damping the possibility of the euro area skirting a technical recession. Private consumption, which has been supporting the economy in the first three quarters, was lower in the fourth quarter.

read more
German Exports Decline As Tariff Treats Damp Demand From US

German Exports Decline As Tariff Treats Damp Demand From US

Germany's exports declined for the second straight month in May due to a sharp fall in demand from the US amid tariff threats, data from Destatis revealed on Tuesday. Exports decreased by more-than-expected 1.4 percent month-on-month in May, following April's 1.6 percent fall. Economists had forecast a 0.2 percent drop. Imports slid 3.8 percent from last month.
RTTNews | 10h 24min ago
Eurozone Retail Sales Drop For First Time In 5 Months; Services Output Fall

Eurozone Retail Sales Drop For First Time In 5 Months; Services Output Fall

Euro area retail sales decreased for the first time in five months and services production declined in May, suggesting a slowdown in the second quarter. Retail sales logged a monthly fall of 0.7 percent in May, reversing April's 0.3 percent increase, Eurostat reported Monday. Sales were expected to drop 0.8 percent. Another data from Eurostat showed that services production decreased 0.3 percen
RTTNews | 1 day ago
Eurozone Investor Confidence Strongest In More Than 3 Years

Eurozone Investor Confidence Strongest In More Than 3 Years

Eurozone investor confidence rose to the highest level in more than three years in July suggesting that fears of recession triggered by the US tariff shocks are completely off the table, survey data from the behavioral research institute Sentix showed on Monday. The investor confidence index advanced to 4.5 in July from 0.2 in June. The reading was the highest since February 2022 and also stayed
RTTNews | 1 day ago
German Industrial Production Rebounds In May

German Industrial Production Rebounds In May

Germany's industrial production rebounded in May driven by robust demand for automobile and pharmaceutical products, official data revealed on Monday. Data released by Destatis showed that industrial production grew 1.2 percent in May from a month ago, confounding expectations for a decline of 0.6 percent. Output in April was revised down to show a 1.6 percent fall compared to the 1.4 percent d
RTTNews | 1 day ago
German Factory Orders Log Bigger-Than-Expected Fall

German Factory Orders Log Bigger-Than-Expected Fall

Germany's factory orders declined more than expected in May on falling demand from both the domestic market and other euro area economies, official data revealed on Friday. Factory orders decreased 1.4 percent from a month ago, Destatis reported. Orders were expected to drop 0.2 percent after an upwardly revised 1.6 percent rise in April. Orders declined for the first time in four months.
RTTNews | 4 days ago
Eurozone Private Sector Expands More Than Estimated

Eurozone Private Sector Expands More Than Estimated

The euro area private sector expanded more than previously estimated in June as both manufacturing and services sectors registered higher output, final survey results from S&P Global showed on Thursday. The HCOB final composite output index advanced to 50.6 in June from 50.2 in May. The reading was well above the flash estimate of 50.2.
RTTNews | 5 days ago
Eurozone Inflation Hits ECB Target

Eurozone Inflation Hits ECB Target

Euro area inflation rose slightly to hit the European Central Bank's 2 percent target in June on slower fall in energy prices and the rise in services inflation, flash estimate from Eurostat showed on Tuesday. Annual inflation climbed to 2.0 percent in June from 1.9 percent in May. The rate reached the inflation target and also matched economists' expectations.
RTTNews | 7 days ago