Germany's retail turnover expected to shrink 0.3% YoY in '22: Destatis

09 Jan '23

1 min read

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Germany’s real (price-adjusted) retail turnover is expected to decline by 0.3 per cent in 2022, as compared to 2021, according to an estimate of the Federal Statistical Office (Destatis). The country’s nominal retail turnover is estimated to be 8.2 per cent higher year-on-year (YoY). In retail trade, the difference between the results in real and nominal terms reflected Germany’s inflation rate at plus 10 per cent in November 2022.

Germany’s retail turnover in November 2022 increased by 1.1 per cent month-on-month (MoM) in real terms, while the turnover increased by 1.3 per cent MoM in nominal terms. The country’s real retail turnover decreased by 5.9 per cent in November 2022, as compared to November 2021, while the turnover increased by 4.8 per cent YoY in nominal terms.

In 2021, Germany saw the highest annual turnover ever achieved in the country’s retail trade since the start of the time series. In that year, turnover grew a real 0.8 per cent on 2020 and 5.6 per cent on 2019.

Fibre2Fashion News Desk (DP)

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