(Finance) – Worse in July 2023 the retail trade in Germany. Sales in real terms recorded a decrease of 0.8% on month, after the -0.8% recorded the previous month. The figure is worse than analysts’ expectations which were for a rise of 0.3%.
According to the German Federal Statistical Office (DESTATIS), the annual change it stands at -2.2% from -1.6% recorded in June and compared to the consensus -1%.
In July 2023, compared with June 2023, retail sales of foodstuffs increased by 2.0%. Compared to the low in December 2022, sales of food products adjusted for calendar and seasonality were 4.4% higher. “Consumers therefore bought slightly more groceries than at the end of 2022 – highlights DESTATIS – One of the reasons is probably that since March 2023 food prices have slightly decreased compared to the previous month”.
(Photo: Dimitris Vetsikas / Pixabay)