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Germany Retail Sales Unexpectedly Collapse the Most in Three Decades

Economists expected Germany's retail sales to rise. Instead sales fell the most since 1994.
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Image from Tweet below.

Image from Tweet below.

Reuters reports German Retail Sales Post Biggest Year-On-Year Slump Since 1994.

Key Points

  • German retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine war and the coronavirus pandemic take their toll, data showed on Monday.
  • Retail sales in June decreased 8.8% in real terms compared with the same month last year, the biggest drop since the time series began in 1994, said the Federal Statistical Office.
  • Analysts polled by Reuters had predicted a drop of 8.0%.
  • Retail sales also unexpectedly fell compared with the month before: June retail sales fell 1.6% in real terms, versus analysts' predictions of a 0.2% increase in a Reuters poll.

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