Retail sales in Germany increased by 1.1% in real terms and 2.5% in nominal terms in 2024 compared to the previous year, according to preliminary data from Destatis.
Retail sales in Germany increased by 1.1% in real terms and 2.5% in nominal terms in 2024 compared to the previous year, according to preliminary data from Destatis. However, this figure was revised down by 0.2 percentage points from the initial estimate released on January 8, 2025, which had incorporated late Christmas sales reports.
The first half of 2024 saw a 0.5% decline in real retail sales compared to the same period in 2023, reflecting subdued consumer spending amid economic uncertainty. However, the sector rebounded in the second half of the year, with a 2.6% increase in real sales, driven by improved consumer confidence and higher household expenditures.
Despite the annual increase, retail sales remained 2.9% below the record highs of 2021, indicating that the sector has yet to fully recover from pandemic-related shifts and inflationary pressures. However, compared to pre-pandemic levels in 2019, real retail sales were up by 2.3%, while nominal sales surged by 22.8%, highlighting the impact of inflation and price adjustments over recent years.
The latest data reflects a gradual stabilization in Germany’s retail sector, with a strong second-half performance helping to offset earlier declines, though broader economic recovery remains a key factor for future growth.
Source: Destatis
Global markets remained focused on U.S. fiscal concerns, shifting central bank expectations, and renewed Middle East tensions.
Fed Inflation Concerns RemainThe latest Federal Reserve minutes show that inflation remains a central concern for policymakers, even as recent economic data has reduced the urgency for another rate increase. Some officials believe price pressures are becoming more widespread, while a smaller group directly supported further tightening.
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