Retail sales in Germany continued to decline in November, but showed improvement year-on-year.

Data released by the German Federal Statistical Office (Destatis) on Wednesday showed that retail sales in Germany experienced another contraction in November compared to October, although they showed improvement compared to November of last year.

According to the data, German retail sales rose by 2.5% year-on-year in November, exceeding October's expectations of a growth rate of 1.9%, after August's reading indicated a growth of 1.0% in the country's retail sales.

However, at the same time, the Federal Statistical Office reported that retail sales experienced a monthly contraction of 0.6% in November, following a decline of 1.5% in October, with expectations forecasting a growth of 0.5% in retail sales.

It is worth noting that this indicator measures the change in the total value of inflation-adjusted sales in the retail sector, excluding cars and fuel stations. Consumer spending constitutes a large part of the economy, which is why traders continuously monitor the trend in the spending rate.

Additionally, retail sales reflect the improvement in the economic situation for consumers. It is important to mention that this indicator not only reflects the overall economic performance but also various trends in retail trade.