Unexpected increase in retail in Germany in November, after according to the Federal Statistical Office, retail sales increased to an annual high, despite the resumption of restrictive measures to curb pandemic, which restrained consumption.
In particular, retail sales increased by 0.6% in real terms compared to October, exceeding Reuters forecast for a decrease of 0.5%.
For 2021, retail sales increased by 0.9% in real terms and by 3.1% in nominal terms, reaching record levels despite restrictions on physical in-store visits.
With the industry still facing problems due to a lack of microchips and other components, it will be difficult for manufacturing to fill the overall production gap created by weaker consumption, said Alexander Krueger, an analyst at private bank Hauck Aufhaeuser Lampe.
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Source From: Capital
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