GERMAN AND FRENCH RETAIL SALES TRENDS
German retailers continue to suffer as the trend remains weak and their volume of business is below its 2005 level. By comparison, France’s retail volume is nearly 8% above its 2005 level.
Retail trade in Germany continues to disappoint. Both the volume and value of trade increased 0.8% 
in December but they are no higher than they were October. The volume of trade in December was 97.0 (2005=100) compared with 97.9 in October. The corresponding figures for the value of trade were 98.9 and 100.0. With the GfK Consumer Climate Survey released last week pointing to a continuing deterioration of the consumer climate in January and February, the outlook for retail sales is not encouraging. The first chart shows that the declining trends in both the value and the volume of retail trade, which began in early 2008, are continuing.
The picture in France is more encouraging. Although both volume and value have had their ups 
and down, the declines in the volume and value of retail trade have been less severe than those in Germany and the trends for both appear to have begun to turn up since May of this year. There was no change in the value of trade in November–the index remaining at 105.2; there was a slight decline in the volume of trade to 107.8 from 107.9 in October.
Haver Analytis
Related posts:
- Euro-Zone Retail Sales Slip
- Eurozone Retail Sales Lifeless
- EUROZONE MARCH RETAIL SALES WEAKER
- Eurozone Retail Sales Stay Weak
- EURO RETAIL SALES REMAIN STAGNANT
