Retail sales grow more slowly than expected

Retail sales grow more slowly than expected

This was reported by the federal statistical office in wiesbaden. Adjusted for calendar and seasonal effects, real sales rose by 0.5 percent compared to july. It was the first month-on-month plus since may. After the surprising drop of 0.2 percent in real terms in july, however, economists had expected a stronger increase of 0.8 percent: because the labor market is robust and consumer sentiment in germany is better than it has been for six years. Consumer researcher rolf burkl from the market research company GFK said last week that burgers are currently shopping "almost euphorically".

According to the statistics, retailers are not yet really noticing this in their coffers. But at least the german retail sector is back in the black for the year to date thanks to the august trading period. From january to august, the retail sector achieved a minimal real increase in sales of 0.1 percent compared to the previous year. In nominal terms, earnings for the eight months were up 1.5 percent over the same period last year.

"We see the development as positive and have no reason to complain," said the spokesman for the HDE trade association, stefan hertel. Business is developing cautiously positive and is fully in line with the HDE forecast of a nominal plus of 1.0 percent for the year as a whole: "we are in good spirits with regard to christmas business."

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