Many consumers are unsettled by the tense economic situation, which is dampening the mood in retail. However, sales increased slightly in August.
German retailers did slightly better business in August than in the previous month of July. As the Federal Statistical Office in Wiesbaden announced, sales increased by 1.6 percent, both adjusted for prices (real) and including price increases (nominal). Compared to August a year ago, sales increased by 2.1 percent in real terms and by 3.1 percent in nominal terms.
The various retail sectors performed differently: In the food retail sector, sales rose by 1.9 percent in real terms compared to the previous month, adjusted for calendar and seasonally. Compared to August 2023, there was an increase in sales of 2.4 percent. Retailers’ sales of non-food items were 1.1 percent more than in July and 1.2 percent more than in the same month last year. Internet and mail order sales recorded a strong increase of 8.9 percent compared to the previous month; sales here were 10.8 percent above the level of August 2023.
There had previously been two consecutive declines in sales in May and June compared to the previous months, before sales in July increased by 1.5 percent in real terms compared to June.
Source: Stern
