German retail gross sales got here in weaker than anticipated in February, as rising costs curbed spending amid excessive inflation.
Retail gross sales declined 1.3% on month in February in actual phrases, after a revised 0.1% enhance in January, German statistics workplace Destatis mentioned Friday.
Economists polled by Dow Jones Newswires anticipated a stagnation in gross sales.
On an annual foundation, gross sales declined 7.1% in actual phrases, although it elevated 2.6% in nominal phrases, with the distinction reflecting the numerous value will increase in retail commerce throughout the previous 12 months, Destatis mentioned.
Food-retail gross sales rose 0.2% on month in February, persevering with a restoration after a gross sales slumped on the finish of 2022. Food gross sales, one of many areas most affected by excessive inflation, nonetheless fell by 7.6% in actual phrases yr on yr. Real, nonfood-retail gross sales fell 0.3% in February on month, Destatis mentioned.
Write to Ed Frankl at edward.frankl@wsj.com and Andreas Plecko at andreas.plecko@wsj.com
Source web site: www.marketwatch.com
