German Retail Takes a Hit – 2.5% Drop in November

In November 2023, Germany’s retail sector faced a surprising downturn, with sales plunging 2.5% compared to the previous month. This decline sharply contrasted with the modest 0.1% drop anticipated by analysts and followed a 1.1% increase in October. The decrease was more pronounced in non-food items, witnessing a 3.6% fall, while food sales dipped slightly by 0.5%.

Looking at year-over-year figures, there was a 2.4% contraction in retail turnover when compared to November of the previous year. Overall, in the first ten months of 2023, the retail trade sector experienced a 3.3% decline, indicating a challenging year for retailers in Germany.

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Ethan O. Miller

Ethan O. Miller is a seasoned Forex analyst. His insightful articles offer a unique perspective on currency trends, aiding both novice and experienced traders in navigating the Forex market.

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