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Strong online business: Retail aims for tenth growth year

2019-09-30T07:56:20.698Z


German retail sales increased in August. Thanks to the booming online business, the outlook for the year as a whole is dazzling.



German retailers increased their turnover in August. The revenue grew by 0.3 percent to the previous month, said the Federal Statistical Office. Price-adjusted, the increase of 0.5 percent was still a tad stronger. Reuters interviewed economists had expected a plus at this level, after it had given in July, a real minus of 0.8 percent.

The industry is heading for its tenth consecutive year of growth. In the first eight months of 2019, sales grew by 3.7 percent year-on-year. The Internet and mail order business recorded the largest increase at 8.8 percent, while the textiles, clothing, footwear and leather goods business grew the weakest at 0.4 percent. The industry association HDE expects a sales increase of two percent over the whole year to a good 537 billion euros, to which above all the booming on-line trade is to contribute.

The German economy is currently particularly dependent on strong domestic demand with robust private consumption, as it is blowing in the foreign markets strong headwinds in the face. Trade conflicts, Brexit uncertainty and the weaker global economy are currently dampening demand for "Made in Germany" goods. Experts therefore expect a slight recession.

Source: spiegel

All business articles on 2019-09-30

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