German Retail Sales Decline in November

(Reuters) – German retail sales fell unexpectedly in November, as reported on Wednesday, despite anticipations for an increase due to pre-Christmas promotions like Black Friday and Cyber Monday.

Retail sales dropped by 0.6% in real terms compared to the previous month, according to the federal statistics office.

Analysts polled by Reuters had forecasted a 0.5% increase.

The statistics office provided an annual estimate indicating that the retail sector in Germany generated 1.3% more sales in real terms in 2024 than in 2023.

Furthermore, real sales in 2024 are projected to be 2.6% above the pre-pandemic levels of 2019.