Retail Sales In Germany Dropped By 2.9% Compared With The Previous Month.

According to the latest figures from the German Federal Statistical Office, the retail sales in the country decreased by 2.9% in September this year, the lowest in 7 years.

In September last year, the retail sales in the country increased by 2.9%. Although the forecast for the same period of this year is not satisfactory, the actual situation is more serious than the expected negative growth rate of 0.9%.

The temperature is mild this autumn, affecting the sale of winter clothing, textiles, and so on. clothing The footwear and leather goods market was severely weakened, with a 5.7% negative growth. But the sales of drugs, supermarkets and department stores have always increased by 5.4%.

The labor market in the country has seen a boom this year, with lower interest rates on bank loans, higher wages and low inflation. These elements have become a new driving force for the prosperity of the consumer market. From 1 to August this year, the sales volume created by the whole industry increased by 1.8% over the same period last year. At present, 4300 people are employed in Germany. The employment rate has reached the highest level in the Federal Republic of Germany, and the wage increase of workers is higher than the price increase.

But none of these elements has brought the continued prosperity of the retail market. The Ukraine crisis has created a sense of insecurity for consumers, which is considered to be the reason why sales performance is not satisfactory in September. After winter comes, especially during the Christmas season, there is a greater incentive. Sales growth is expected to reach 1.5% at the end of the year.

If the retail sales continue to decline in the third quarter of this year, it will directly affect the German economic growth this year, and economic experts predict that there will be negative growth.

　　 European economy The unemployment rate in many EU countries remains high, and the average EU unemployment rate is 11.5%. The recession also shows low inflation. Although euro area goods prices increased by 0.4% in October, they were far from the European Central Bank's 2% inflation expectations.