Jump to content
House Price Crash Forum
Sign in to follow this  

Retail Sales Fall Back In Germany

Recommended Posts


German retail sales fell by 1.8% in June from a month earlier, despite many analysts expecting a slight rise.

The Federal Statistics Office figures will dent hopes that consumer spending could help support Europe's largest economy, observers say.

Sales in June were also down 1.6% from the same month last year.

Germany is facing its worst economic downturn since World War II and the economy is expected to contract by about 6% this year.

Unemployment has risen by only 300,000 since the global financial and economic crisis began - largely due to firms shortening working hours, which has reduced job losses.

But this situation is unlikely to last, according to Klaus Schruefer, an economist at SEB.

"In the medium-term, retail sales should be burdened further when short-time work gives way to job losses," he said. "Then a lot of workers will have less in their pockets."

Last week, official figures showed that German consumer prices fell for the first time in 22 years in July.

So the German's aren't buying.

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.