BERLIN—German retail sales rose unexpectedly in November, data showed on Tuesday, lifting them to a record annual high despite renewed COVID-19 restrictions which held back a consumer-led recovery in Europe’s largest economy. The Federal Statistics Office said retail sales were up 0.6 percent on the month in real terms. That beat a Reuters forecast of a fall of 0.5 percent. For 2021, retail sales rose 0.9 percent in real terms and 3.1 percent in nominal terms, reaching record highs despite curbs on non-essential visits to the shops. “Due to renewed coronavirus restrictions, the situation will remain tense for the time being,” said Alexander Krueger, an analyst with Hauck Aufhaeuser Lampe private bank. With industry still struggling amid supply shortages in microchips and other components, it would be hard for manufacturing to fill the overall output gap created by weaker consumption, he added. The GfK market research institute said last month …
German Retail Sales Outlook Clouded Despite Surprise Rise in November
January 5, 2022
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