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- German retail sales rose less than forecast in August
German retail sales rose less than forecast in August
According to provisional results of the Federal Statistical Office (Destatis), the real (price-adjusted) turnover of all retail enterprises in Germany was 1.1% higher and the nominal (not price-adjusted) turnover was 1.2% higher, on a calendar and seasonally adjusted basis, in August 2021 than in July 2021. Economists had expected real turnover to grow by 1.5%.
Retail turnover in real terms was up by 6.0% in August 2021 on the pre-crisis month of February 2020. Compared with August 2020, turnover increased by 0.4% in real terms and by 2.3% in nominal terms in August 2021.
The retail trade of food, beverages and tobacco in August 2021, adjusted for calendar and seasonal effects, grew by 3.4% in real terms compared to July 2021 and was 5.0% below the pre-crisis level of February 2020. The turnover of supermarkets and hypermarkets fell by 2.8% compared to the previous month and was 4.2% below the pre-crisis level.
By contrast, the retail trade in non-food products experienced an increase in sales in August 2021. Real sales in August 2021 were 4.9% higher on a calendar and seasonally adjusted basis than in the previous month and were even 12.2% above the pre-crisis level of February 2020.
The Internet and mail order business recorded a real, calendar and seasonally adjusted increase in sales of 9.0% compared to the previous month. At 29.8%, sales in this sector remain well above the level of February 2020.
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