German retail sales fell in November, signalling the fragility of the recovery from recession.
Germany's central bank, the Bundesbank, expects data to show that the economy, Europe's largest, contracted 4.9% in 2009. In another signal of gloom, Germany's retail association estimates total Christmas sales dipped 1.5% in 2009 and today Praktiker AG, Germany’s second-biggest home-improvement retailer, reported a 10.3% decline in fourth-quarter revenue. However sales for the full year, were almost unchanged from 2008.
Overall retail sales in November were down 1.1% compared with the previous month in seasonally adjusted terms. The retail data excludes car sales.
According to Destatis, the German statistics office, retail turnover in Germany is expected to be between 2.5% and 2.7% smaller than in 2008. In real terms however turnover is expected to decrease by between 1.9% and 2.1%.
In the first eleven months of 2009 retail turnover was in nominal terms 2.6% and in real terms 1.8% smaller compared with the corresponding period of the previous year.
In November 2009 according to provisional data available from seven Länder (states) turnover in retail trade in Germany was in nominal terms 3.1% and in real terms 2.8% smaller than in November 2008. The number of days open for sale was 25 in November 2009 and 25 in November 2008.
When adjusted for calendar and seasonal variations, the November turnover was in nominal terms 1.2% and in real terms 1.1% smaller than in October 2009.