German retail sales in November fall more than expected

By Tuba Ongun

ANKARA (AA) – Germany's retail sales plunged 2.5% month-on-month in November 2023, more than economists' expectations, according to data released on Friday.

This was the largest decline in retail sales seen so far last year, the Federal Statistical Office (Destatis) said.

The market expected the real (price-adjusted) turnover of retail enterprises would fall 0.5%, following October's 1.1% hike.

Food sales decreased 0.5% in the same period, while non-food retail sales dropped by 3.6%.

On a yearly basis, retail sales dove 2.4% in November 2023, following a 0.1% decrease in October 2023, Destatis data showed.