Germany’s retailers sold less last year after adjusting for prices. In real terms, revenue fell by 3.3 percent compared to the previous year, as the Federal Statistical Office announced on Wednesday in Wiesbaden based on preliminary data. The result was slightly worse than the authority’s first estimate of minus 3.1 percent. However, sales were still 1.3 percent above the pre-Corona level in 2019. Including price increases (nominal), retailers had 2.3 percent more in their coffers than in 2022.
In the internet and mail order trade, which boomed during the corona pandemic, sales fell by 3.9 percent in real terms and by 0.4 percent in nominal terms. The retail trade in textiles, clothing, shoes and leather goods continued its recovery after the slump during the pandemic and generated 2.6 percent more in real and 3.7 percent in nominal terms than in the previous year.
According to preliminary results, retail sales in the important Christmas business in December were 1.7 percent less in real terms than in the same month last year. In nominal terms, it recorded a slight increase of 0.8 percent.
Higher inflation rates reduce the purchasing power of consumers, who can afford one euro less. Many people therefore slowed down on consumption last year. (dpa)