Sales at retailers in Germany fell at a monthly rate of 1.8% in November, the Federal Statistical Office said earlier on Friday, which was a much steeper drop than what the median forecast by experts had pointed. It has been the sharpest monthly decrease since December 2013. In October, retail sales were reported to have surged 2.5% month-over-month.
In annual terms, German retail sales grew 3.2% in November, while outstripping market consensus (1.2% annual growth). Taking into account the entire 2016, sales are projected to increase at a rate between 1.8% and 2.1%, according to FSO data, following a full-year growth of 2.5% in 2015.
Within the period 1994-2016, the average monthly rate of sales increase was 0.01%.
A separate report revealed on Friday that the volume of orders at German factories went down 2.5% in November from a month ago, after a revised up 5.0% surge in October. Novembers rate of decrease has been the steepest one since November 2014, dragged down by weaker demand both domestically (a 2.8% fall) and abroad (a 2.3% drop). The median estimate by experts pointed to a 2.3% monthly decrease in orders.
In November, the volume of orders for capital goods shrank 4.8% from a month earlier. On the other hand, demand for consumer goods (+1.5%) and intermediate goods (+0.5%) was higher during the same month, according to a report by Deutsche Bundesbank. New orders from Euro Area clients went down 2.7% in November, while orders from other countries shrank 2.0%.
As of 10:48 GMT on Friday Germanys blue chip benchmark DAX 30 (GDAXI) was shedding 0.19% on the day at 11,562.50. The index has gained 0.71% so far during the current week and was poised to log its fifth consecutive weekly period of advance. The DAX added 7.90% to its value in December to mark its best monthly performance since October 2015. Back then the gauge soared 12.32%.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
