2020.01.3106:15:00UTC+00Germany Retail Sales Fall More Than Expected

Germany's retail sales declined more than expected in December, data from Destatis revealed on Friday.

Retail sales decreased 3.3 percent on month in December, reversing a 1.6 percent rise in November. Sales were expected to drop moderately by 0.5 percent.

On a yearly basis, retail turnover growth eased to 0.8 percent from 2.7 percent. Economists had forecast the annual rate to accelerate to 4.5 percent.

Sale of food, beverages and tobacco dropped 1.4 percent annually, while non-food product sales were up 2 percent.

In the whole year of 2019, retail turnover grew 2.7 percent in real terms and 3.3 percent in nominal terms.