German NTV recently reported that in September this year, the German retail industry unexpectedly suffered a sales impact, with sales falling sharply by 2.9% compared with the previous month, which is rare in recent years. Excluding inflation, the decline would have exceeded 3.2%. Economists had expected a decline of just 0.8%. Among them, textiles, clothing, footwear and leather goods have experienced the most severe declines.
From January to September this year, German retail sales increased by 1.8% year-on-year, and annual sales are expected to increase by about 1.5%. A good job market, low interest rates, rising wages and low inflation made the retail industry optimistic. However, geopolitical factors such as the Ukraine crisis have shaken consumer confidence, but the impact is limited. GfK market research agency believes that the German market sentiment index in November will definitely rebound.