BERLIN (Reuters) - German retail sales rose in November and jobless numbers fell last month, against forecasts that both readings would worsen, suggesting parts of Europe’s largest economy have weathered the impact of the coronavirus unexpectedly well.
Retail sales rose 1.9% in November, when markets had anticipated a contraction, the Federal Statistics Office said on Tuesday, adding that it expected sales to have grown around 4% during 2020 as a whole - exceeding 2019’s 3.2% expansion.
The Statistics Office said its provisional full-year retail sales growth figure - contrasting with an expected drop of 5.5% in gross domestic product, according to Bundesbank data - included December’s full lockdown.
November’s biggest winners were in online and delivery retail, where revenues rose 31.8% compared to November 2019, while spending on household decorations, appliances and building materials rose 15.4%.
Clothing sales fell 20% and mixed retail - a category including department stores - was down 6.1%.
BERLIN, Federal Statistics Office, Federal Labour Agency, Analysts, ING, Statistics Office