Germany's retail industry posts drop in turnover in Feb '23: Destatis

03 Apr '23

1 min read

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German retail industry's turnover fell by 1.3 per cent in February 2023 compared to January, while nominal turnover dropped by 0.5 per cent, as per Destatis.
Compared to February 2022, real turnover fell by 7.1 per cent, while nominal turnover rose by 2.6 per cent.
Retail turnover in real terms fell by 1.6 per cent in February 2023 compared to February 2020.

The retail industry in Germany experienced a drop in turnover in February 2023, according to provisional results released by the Federal Statistical Office (Destatis). The real turnover, adjusted for price changes, decreased by 1.3 per cent in February 2023 compared to January 2023, while the nominal turnover, not adjusted for price changes, dropped by 0.5 per cent.

Compared to the same period in the previous year, the retail trade in February 2023 saw a 7.1 per cent decrease in turnover in real terms, while nominal turnover increased by 2.6 per cent. The difference between the two results is attributed to the significant price increases in retail trade, as per Destatis.

The provisional results also indicate that the retail turnover in real terms decreased by 1.6 per cent in February 2023 compared to February 2020, the month before the COVID-19 pandemic.

Fibre2Fashion News Desk (DP)

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