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Retail sales in 2023 3.3% lower in real terms than in 2022
According to preliminary results from the Federal Statistical Office (Destatis), retail in Germany generated 3.3% less real (price-adjusted) sales and 2.3% more nominal (not price-adjusted) sales in 2023 than in 2022. The first real annual result available is therefore slightly below the estimate published on January 5, 2024. Compared to 2021, when the highest sales to date were achieved since the time series began in 1994, real annual sales fell by 3.9% in 2023. During the Corona pandemic in 2020, German retail achieved a high real sales growth of 4.8%, supported by online and mail order sales, among other things, ... (full story)