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Real retail sales in 2023 expected to be 3.1% lower than in 2022
According to an estimate by the Federal Statistical Office (Destatis), retail in Germany generated 3.1% less real (price-adjusted) sales and 2.4% more nominal (not price-adjusted) sales in 2023 than in 2022. In comparison to In 2021, when the highest sales to date were achieved since the time series began in 1994, real annual sales in 2023 are expected to have fallen by 3.8%. During the Corona pandemic in 2020, German retail achieved a high real sales growth of 4.8%, supported by internet and mail order sales, among other things, and in 2021 sales increased again by a further 0.6% in real terms. In contrast, the real ... (full story)