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- German retail sales fell sharply in January
German retail sales fell sharply in January
According to provisional data of the Federal Statistical Office (Destatis), turnover in retail trade in January 2021 was in real terms 4.5% and in nominal terms 3.9% lower than in December 2020 (both adjusted for calendar and seasonal influences). These results can be explained by the second COVID-19 lockdown, which led to a partial retail closure starting on 16 December 2020. Economists had expected a 0.3% decrease in nominal terms.
In comparison to February 2020, the month before the outbreak of Covid-19 in Germany, the turnover in January 2021 was 5.8% lower.
In January 2021, the turnover in retail trade was in real terms 8.7% and in nominal terms 7.4% lower than in January 2020. The number of days open for sale was 25 in January 2021, whereas 26 days were open for sale in January 2020.
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