German retail sales fall in January: statistics

Sales in the biggest European economy slipped by 0.6% in January, the national statistics office said, while analysts polled by Dow Jones Newswires had expected no change from December.

On a 12-month basis, sales shed 1.3%, the Destatis office said in a statement which added that the drop was especially noticeable for food, drinks and tobacco.

Figures for December were revised slightly higher meanwhile.

An initial monthly drop of 0.2% was changed to a rise of 0.5%, final figures for that month showed, while the yearly change moved from a drop of 0.3% to an increase of 0.4%.

The data do not include petrol sales or sales at petrol stations.

Last month, the GfK research institute's survey of consumer sentiment showed it had risen owing to an auto replacement incentive and rock-bottom inflation.

A government scheme that gives consumers €2,500 if they turn in an old car for a new one that pollutes less has been well received in a country where autos are major status symbols.

The GfK data "reinforces indications that consumption is helping to tone down the economic slump this year," the institute had said.

Source: AFP

Published courtesy of