German Retail Sales Experience Significant Growth in January

In a recent report released by Germany's statistical office, Destatis, it was revealed that the retail trade turnover in January saw a notable increase. Compared to the same period last year, there was a 2.9% rise in real terms, and a slight 0.2% increase from the previous month.

Nominal Growth and Sector Performance

On a nominal basis, the growth was even more pronounced, with a 3.8% annual increase and a 0.1% monthly rise. The food retail sector enjoyed a 1.5% monthly and a 0.6% yearly growth in real terms. Conversely, the non-food retail sector experienced a slight 0.2% dip from December but saw a 3.7% increase compared to January 2024.