German retail sales fall 2% in September, worse than expected
German retail sales fell 2% in September after adjusting for prices, while economists had expected a 0.3% rise.
الحدث: 2 نوفمبر 2026
المصدر الأساسي: 2 نوفمبر 2026
نُشر هنا: 2 نوفمبر 2026 في 09:15 ص UTC
اقرأ: 2 دقيقة
ماذا حدث
Germany's statistics office Destatis said retail sales fell 2.0% in September from August in real terms (adjusted for prices). In nominal terms they fell 1.5%. Compared with a year ago, real sales were down 2.3%. Economists, per Dow Jones, had expected a 0.3% rise.
لماذا يهمك
Germany is the euro area's biggest economy, and household spending is a big part of it. When sales rise 1.2% in euros over a year but fall 2.3% in volume, people are paying more and buying less. That weighs on growth and on the euro.
ماذا تتحقق منه وتراقبه
The data are preliminary and often revised. Watch the next German retail and inflation numbers and ECB decisions. This is an overview, not advice.
أين يحدث ذلك
LIVEاسحب للتدوير. النقاط الخضراء: البورصة تتداول الآن (الساعات العادية، دون احتساب العطل). الظل: حيث الليل الآن. الحدود: Natural Earth، الزلازل: USGS. فكرة الطبقات: God’s Eye View (MIT).
What happened. On November 2 Destatis published preliminary figures for September 2026. Adjusted for calendar and seasonal effects, retail sales fell 2.0% from August in real terms (after prices) and 1.5% in nominal terms (in plain euros). Compared with September 2025, real sales fell 2.3% while nominal sales rose 1.2%. August was revised to a 1.2% real rise from a first reading of 1.3%.
Expectations. Per Dow Jones, economists had expected a 0.3% monthly rise. The result was much worse.
Where it fell. Food: down 1.4% on the month in real terms. Non-food: down 2.4%. Online and mail order: down 2.2% on the month but up 4.4% on the year. At petrol stations real sales fell 3.4% on the month and 9.3% on the year, while nominal sales rose 16.2% on the year. So less fuel is being sold, but people pay much more for it.
Worth knowing. From September Destatis switched to a new sample of retailers and applied it back to January 2026, so the office warns that revisions may follow. Dow Jones also notes that retail data are often revised heavily.
What is not known. Destatis does not give reasons for the drop. Whether October will be better is not known yet. This is an overview, not advice.
حقائق مؤكدة
- German retail sales in September 2026 fell 2.0% from August in real terms and 1.5% in nominal terms (preliminary, calendar and seasonally adjusted).[1][2]
- Compared with September 2025, real sales fell 2.3% and nominal sales rose 1.2%.[1][2]
- August was revised to a 1.2% real rise from a preliminary 1.3%.[1][2]
- Economists had expected a 0.3% monthly rise.[2]
- Food sales fell 1.4% on the month in real terms, non-food 2.4% and online and mail order 2.2% (online was up 4.4% on the year).[1]
- Real sales at petrol stations fell 3.4% on the month and 9.3% on the year, while nominal sales rose 16.2% on the year.[1][2]
- From September 2026 Destatis uses a new sample of retail businesses, applied back to January 2026, so revisions are possible.[1]
التبعات
- مؤكدIn September people in Germany bought fewer goods than in August and than a year ago.
- قراءتناThe gap between growth in euros and the drop in volume shows rising prices eating into purchases. This is our view.
- قراءتناWeak spending may add pressure on euro area growth at the end of the year. This is our view.
لا يزال مجهولًا
- Reasons for the drop: Destatis does not give them
- How much September will be revised
- What October sales will look like
من يتأثر
Germany, Europe. People who follow Europe's economy, the euro, the DAX and the ECB
المصادر
الغلاف: رسم Freekonomist، صورة رمزية، لا صورة للحدث. هذا شرح إخباري، لا نصيحة مالية.
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