January Brings Good News for German Retail

In a recent report released by Destatis, Germany's statistical office, the retail sector has shown a significant uptick in January. With a 2.9% increase in real terms compared to the same period last year, the figures are a breath of fresh air for the economy.

Month-on-Month Growth

On a monthly basis, the turnover in retail trade saw a modest increase of 0.2%. This steady growth indicates a positive trend in consumer spending and confidence.

Nominal Terms Show Stronger Growth

When looking at nominal terms, the growth is even more pronounced. Retail sales jumped by 3.8% on an annual basis and saw a slight increase of 0.1% from the previous month.

Food vs. Non-Food Retail

The food retail sector experienced a 1.5% increase month-on-month and a 0.6% rise year-on-year. In contrast, the non-food retail sector saw a slight dip of 0.2% from December but a significant 3.7% increase compared to January 2024.