Germany’s real (price-adjusted) retail turnover was 0.6 per cent lower in 2022 as compared to the previous year, according to provisional results of the Federal Statistical Office (Destatis). The country’s nominal (not price-adjusted) turnover was 7.8 per cent higher in 2022 than in 2021. The primary reason for the fall in real turnover in 2022 probably was the marked increase in consumer prices.
In the first half of 2022, Germany’s real retail turnover increased by 3.1 per cent compared to the first half of 2021, whereas it was markedly down (4.1 per cent) year-on-year (YoY) in the second half of 2022.
German retail trade enterprises had generated a record turnover in 2021, as per Destatis.
Germany's real (price-adjusted) retail turnover was 0.6 per cent lower in 2022 as compared to the previous year, according to the provisional results of Destatis. The country's nominal turnover was 7.8 per cent higher in 2022 than in 2021. The primary reason for the fall in real turnover in 2022 probably was the marked increase in consumer prices.
In December 2022, the country’s real retail turnover decreased by 5.3 per cent month-on-month (MoM). In nominal terms, turnover was down by 4.8 per cent MoM in December 2022. Furthermore, on a YoY basis, retail turnover in December 2022 decreased by 6.4 per cent in real terms and increased by 4.2 per cent in nominal terms.
Fibre2Fashion News Desk (DP)
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