German Retail Sales Experience Significant Growth in January

In a promising start to the year, Germany's retail sector witnessed a substantial uptick in sales. According to Destatis, the country's statistical office, calendar and seasonally adjusted retail turnover saw a 2.9% increase in real terms in January compared to the same period last year. On a monthly basis, the growth was a modest 0.2%.

When looking at nominal terms, the scenario was even brighter, with retail sales surging by 3.8% on an annual basis and 0.1% from the previous month.

Food and Non-Food Retail Sales Show Mixed Trends

The food retail sector enjoyed a 1.5% month-on-month increase and a 0.6% year-on-year growth in real terms. Conversely, the non-food retail trade experienced a slight decline of 0.2% compared to December but still managed a significant 3.7% increase from January 2024.