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  • Germany may be enduring another lock down, but it's consumers seem to have decided to spend their way out off the gloom.

  • Retail sales in the country are expected to have grown 4% in 2020.

  • That is, according to the National Statistics Office.

  • The forecast follows a surprisingly buoyant November.

  • Sales that month rose 1.9% when economists had forecast a drop.

  • That was thanks to very strong growth in online sales and spending on home improvements.

  • Sales at online and delivery retailers were up by almost a third on the year.

  • Spending on household appliances, decorations and building materials rose by just over 15%.

  • But if Germans are getting house proud, they aren't dressing to impress Clothing sales fell by 1/5 over the same period.

  • The November figures cover a month when Germany waas in only partial locked down.

Germany may be enduring another lock down, but it's consumers seem to have decided to spend their way out off the gloom.

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B1 gloom forecast germany november spending rose

Germans spend their way out of lockdown gloom

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    林宜悉 posted on 2021/01/06
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