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Financial News: Germany Retail Sales Recover In November

Germany Retail Sales Recover In November

01/06/2020 - 02:15:00 (RTTNews)

(RTTNews) - Germany retail sales recovered in November after falling in the previous month, data from Destatis revealed Monday.

Retail turnover advanced 2.1 percent in November from the previous month, offsetting the 1.3 percent decline in October. Economists had forecast an increase of 1 percent.

On a yearly basis, retail sales growth accelerated to 2.8 percent from 1.4 percent a month ago. The growth rate was expected to ease to 1 percent.

In nominal terms, retail sales increased 2.1 percent on month taking the annual growth to 3.1 percent in November.

In the first eleven months of 2019, retail turnover increased 2.9 percent in real terms and 3.5 percent in nominal terms.

Retail turnover 2019 is expected to be between 2.8 percent and 3.0 percent higher in real terms than in 2018, Destatis reported.

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