Retail sales decreased by 5.3% in December compared with the previous month, the federal statistics office said. Analysts polled by Reuters had forecast a 0.2% rise in price-adjusted terms.
"Just before Christmas, retailers in German city centres missed the big rush," said VP Bank chief economist Thomas Gitzel.
because of brexit?
How is it a surprise when spending falls due to quadrupled energy cost and record inflation ?
How is this a surprise... People only have so much disposable income to go around, if the cost of goods go up, they will naturally buy less, not to mention the cost of other goods have gone up, meaning they will buy even less retail products.
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