German retail sales fell less than forecast in April

According to provisional data from Federal Statistical Office (Destatis), turnover in retail trade in April 2020 was in real terms 6.5% and in nominal terms 5.3% lower than in April 2019. Economists had expected a 12% decrease. The number of days open for sale was 24 in April 2020 and in April 2019. When adjusted for calendar and seasonal variations, the April 2020 turnover was in real terms 5.3% and in nominal terms 5.1% lower than in March 2020.

Separate report from Destatis showed that the index of import prices decreased by 7.4% in April 2020 compared with the corresponding month of the preceding year. This has been the highest price decrease compared to the previous year since October 2009 (-8.1%). In March 2020 and in February 2020 the annual rates of change were -5.5% and -2.0%, respectively. From March 2020 to April 2020 the index fell by 1.8%.

The index of import prices, excluding crude oil and mineral oil products, decreased in April 2020 by 2.6% compared with April 2019 and in comparison with March 2020 it fell by 0.6%.

The index of export prices decreased by 1.1% in April 2020 compared with the corresponding month of the preceding year. This has been the highest price decrease compared to the previous year since August 2016 (-1.1%). In March 2020 and in February 2020 the annual rates of change were -0.5% and +0.3%, respectively. From March 2020 to April 2020 the index fell by 0.4%.