FLGR - German industrial output bouncing back in January retail sales down 6.9% in January

March, 08 2023 02:15 AM Franklin FTSE Germany

2023-03-08 02:15:11 ET

Industrial production in Germany increased 3.5% month-over-month in January 2023, recovering from a 3.1% drop in December and well-above market expectations of a 1.4% rise.
It was the sharpest growth since June 2020.
Retail Sales in Germany decreased 0.30 percent in January of 2023 over the previous month.
Turnover in retail trade in Germany decreased 6.9% in January in real terms compared to the same month a year ago, according to a report released by the country’s statistical office Destatis on Wednesday. In nominal terms, retail sales rose 2.8% year-on-year.
That's a big miss on estimates and after the plunge in retail sales activity in December, this is not a good look for the German consumer. It is evident that high inflation is weighing on household spending and that might bite further at the economy in the months ahead.
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