12/1/2022, 8:04 AM (Source: TeleTrader)
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Germany's retail sales down by 5% in October

Calendar and seasonally adjusted turnover in retail trade in Germany observed an annual decline of 5.0% in October, the Federal Statistical Office (Destatis) unveiled in its report published on Thursday. On a monthly level, the figure went down by 2.8%. Both figures went down significantly more than analysts predicted.

In nominal terms, calendar and seasonally adjusted turnover in retail trade advanced by 6.2% compared to the same month in 2021 and dropped by 1.7% in contrast with September 2022.

The report observed decreases in all areas. Trade in groceries fell by 1.2% month-on-month and 3.9% year-on-year. Sales of non-food items went down by 4.5% compared to September and 5.5% compared to October 2021. Gas station sales saw an annual decline of 9.1% and remained unchanged in comparison to September. Online and mail orders lost 1.8% on a monthly and 7.1% on an annual basis.

Baha Breaking News (BBN) / JR