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Actual | Forecast | Previous | Revised Form | |
| 0.4% | -0.1% | 0.5% | N/A | ||
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For May
(s.a.)
Retail Sales y/y: -2.9%, pr. -0.8% (Apr), -1.5% (Mar), -6.2% (Feb),
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| 10/1 | 10/31 | 12/1 | 1/9 | 2/3 | 3/5 | 4/1 | 5/4 | 5/29 | 7/1 | ||
| Actual | 3.1% | -2.3% | -1.6% | 0.7% | -0.2% | -0.6% | -0.2% | -1.0% | 0.5% | 0.4% | |
| Forecast | 0.5% | -1.0% | 0.5% | 0.4% | 0.5% | 0.3% | 0.2% | 0.0% | 0.5% | -0.1% | |
| Previous | -1.0% | 1.9% | -1.0% | -2.2% | -0.1% | 0.5% | -0.9% | 0.0% | -0.4% | 0.5% | |
| Revised From | N/A | N/A | -2.3% | -1.6% | 0.7% | 0.1% | -0.6% | -0.2% | N/A | N/A | |
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Actual | Forecast | Previous | Revised Form | |
| 0.5% | 0.5% | -0.4% | N/A | ||
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For April
(s.a.)
Retail Sales y/y: -0.8%, pr. -1.5% (Mar), -6.2% (Feb),
-1.3% (Jan),
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Actual | Forecast | Previous | Revised Form | |
| -1.0% | 0.0% | 0.0% | -0.2% | ||
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For March
(s.a.)
Retail Sales y/y: -1.5%, forecast -0.3%, pr. -6.2% (Rev. from 5.3%, Feb),
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Actual | Forecast | Previous | Revised Form | |
| -0.2% | 0.2% | -0.9% | -0.6% | ||
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For February
(s.a.)
Retail Sales y/y: -5.3%, forecast -1.2%, pr. -1.3% (Jan), -0.3% (Dec),
German retail sales undershot forecasts of a small increase to show a third straight month of declines, and the 5th month out of the last six in which sales have been negative. In February, sales were down 0.2% though there was one less shopping day compared to February of 2008. The data showed that Germans spent more money on cars, as the government instituted a car-scrapping scheme, though that has taken away from other parts of the retail sector. The German economy needs support from domestic spending as exports around the world have plummeted, and that takes away a strong vehicle for the economy's growth. |
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Actual | Forecast | Previous | Revised Form | |
| -0.6% | 0.3% | 0.5% | 0.1% | ||
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For January
(s.a.)
Retail Sales y/y: -1.3%, pr. -0.3% (Dec), -3.0% (Nov), -0.8% (Oct),
German retail sales fell in January by 0.6% on the month, and 1.3% in annual terms. Economists had expected an increase for the monthly figure, so the news was disappointing. Consumers cut back on spending as they see unemployment rising and are concerned about the labor market. Unemployment in Germany rose to 7.9% in February. Weak consumer spending, combines with faltering exports and lower investor spending to pressure economic growth.The German government will spend about $100 billion on measures to stimulate growth, including tax cuts and subsidies to get consumes to buy new cars. |
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Actual | Forecast | Previous | Revised Form | |
| -0.2% | 0.5% | -0.1% | 0.7% | ||
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For December
(s.a.)
Retail Sales y/y: -0.3%, pr. -3.0% (Nov), -0.8% (Oct), 2.4% (Sep),
German retail sales disappointed forecasts, undershooting expectations of a rise in December. Instead sales fell 0.2% on a seasonally adjusted basis, and November's figure was revised down from a 0.7% increase to a 0.1% decline. Consumers have seen lower energy prices which helped boost spending power, but with unemployment increasing they may have been less willing to spend and instead saved. For Germany, consumer spending needs to offset plummeting exports as global demand falters in the face of the global recession. Today's data dashed hopes that the Christmas spending season could have provided a glimmer of hope in the bleak economic data coming out of the Euro-zone. |
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Actual | Forecast | Previous | Revised Form | |
| 0.7% | 0.4% | -2.2% | -1.6% | ||
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For November
(s.a.)
Retail Sales y/y: -3.0%, pr. -0.8% (Oct), 2.4% (Sep), -3.0% (Aug),
Retail sales in Germany rose 0.7%, higher than expected, and reversing some of the 2.2% decline seen in September. Consumers were helped by lower oil prices and slowing inflation. Consumers may also be responding to recent cuts by the ECB which has lowered borrowing costs. Of course with deep discounts to be had as retailers tried to draw in shoppers for the holiday season, the results will have to be duplicated in December and in the beginning of 2009 to actually draw a positive trend from it. The 4th quarter is expected to be grim, and today's data will not mitigate that fact. Also, unemployment has begun to creep up a report yesterday showed which will hit consumer confidence even harder than the rise in inflation we saw earlier in the year, or the implosion of the financial system seen in Autumn. GDP growth is expected to be the worst this year since 1993, as weaker spending at home is being matched by record decline in exports abroad. |
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Actual | Forecast | Previous | Revised Form | |
| -1.6% | 0.5% | -1.0% | -2.3% | ||
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For September
(s.a.)
Retail Sales y/y: -0.3%, pr. 2.4% (rev from 1.2%, Sep), -3.0% (Aug),
Retail sales in Germany surprised forecasts on the downside, dropping1.6% from September, when they declined a reviseed 1%. Forecasts had called for a gain in sales. But with the German economy in recession, confidence among consumers is low, hurting sales coming into the holiday season. The Euro, which was pressured to end last week, will continue to slide as traders factor in more rate cuts from the ECB, with a 50 basis point cut forecasts for Thursday's meeting. |
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Actual | Forecast | Previous | Revised Form | |
| -2.3% | -1.0% | 1.9% | N/A | ||
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For September
(s.a.)
Retail Sales y/y: 1.2%, pr. -3.0% (Aug), 0.0% (Jul), -3.9% (Jun), 0.7% (May),
Retail sales in Germany, Europe's largest economy fell 2.3% in September, undershooting economists' forecasts as consumers cut back their spending in the face of the worsening economic outlook as a result of the financial crisis. The 2.3% decrease was the biggest drop since May of 2007. Though oil prices have come down dramatically, there are concerns the job market will be weak going forward. This was not the case with Germany's unemployment change for October, which bested expectations, but with the Euro-zone considered to be in recession, job losses are expected to climb. From the Release: "According to provisional results of the Federal Statistical Office (Destatis), turnover in retail trade in Germany in September 2008 was in nominal terms 4.1% and in real terms 1.2% larger than that in the corresponding month of the previous year. The number of days open for sale was 26 in September 2008 and 25 in September 2007.
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Actual | Forecast | Previous | Revised Form | |
| 3.1% | 0.5% | -1.0% | N/A | ||
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For August
(s.a.)
Retail Sales y/y: -3.0%, forecast: -2.6%, pr. 0.0% (Jul), -3.9% (Jun), 0.7% (May),
Retail sales in August grew 3.1% in seasonally adjusted terms, which surprised forecasts of a 0.5% increase, and reversed the upwardly revised 1.0% drop seen in July. The monthly increase was the biggest rise in nearly 2 years, and is a rare sign of good news for the Euro-zone and its largest economy. Though the headline figure looks favorable, the annual pace of retail sales fell back into negative territory at -3.0%. The data accounts for 76% of total sales, but excludes cars sales and sales at gas stations. Total sales rose by 4.6%, though car sales were down 10.4% on the year in August, so most of that extra increase must be a result of higher gas sales. |
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