RSS German Retail Sales Grow More Than Forecast

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 RSS German Retail Sales Grow More Than Forecast

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In November, German retail sales exceeded expectations as consumers took advantage of Black Friday promotions, leading to an early rush on Christmas shopping, according to data released by Destatis on Wednesday. Sales in November were 2.5% higher than the same month in 2023, surpassing the anticipated growth rate of 1.9%. However, there was a 0.6% decline in sales compared to the previous month, which was contrary to forecasts predicting a 0.5% increase.

Throughout 2024, retail sales increased by 1.3% in real terms compared to the previous year. An initial decline of 0.4% in the first half of the year was offset by a robust 3.0% growth in the latter half. In nominal terms, retail sales rose by 2.7% over the year, the data indicated.

The material has been provided by InstaForex Company - www.instaforex.com
 
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