Retail sales in Germany fell by 0.6% month-over-month in November 2024, reversing an upwardly revised 0.4% increase in October and falling short of the expected 0.5% gain.
Germany's retail sales drop 0.6% in November
The food retail sector saw a modest 0.1% increase, while non-food retail sales declined by 1.8%, primarily driven by a 1.2% drop in e-commerce and mail orders.
Every year, retail sales rose by 2.5%, up from an upwardly revised 2.4% in October and exceeding the forecasted 1.9%. This annual increase was partly due to the shift of some Christmas shopping into November, driven by Black Friday and Cyber Monday promotions, which boosted online and mail-order sales. Food retail sales grew by 1.7% year-on-year, while non-food retail sales saw a more substantial 2.3% increase.
Germany's retail sales expected to grow 1.1% in 2024
Provisional estimates for the full year 2024 suggest that retail sales in Germany increased by 1.1%, indicating moderate growth despite the monthly decline in November.
