- Prior +1.1%
Ouch. That's a big miss on German retail sales on the month and it shows that even with the typical Christmas promotions before the December month, it is not enough to bolster activity in November. But keep in mind that October was a good month, so the drop here is in part due to the strong increase in the month before as well. That being said, this looks a lot more like domestic demand still being largely subdued in Europe's largest economy. Looking at the details:
- Real sales in food retail at the lowest level in recent years, approximately the same level as in 2015
- Real non-food retail sales fell by 3.6% m/m
- Real sales for internet and mail order trade fell by 2.8% m/m
