Compared to the same month last year, sales jumped 6.4 per cent with seasonal factors reporting, significantly outpacing analysts' expectations of a rise of just 1.5 per cent. Reported on a monthly basis, February sales rose 1.2 per cent.
A surge in demand from households preparing for restrictions on going outside and possible quarantine has already led to a shortage of toilet paper across the country and has promoted the word “hamstering” or “piling like a hamster,” which Germans use for panic shopping, BTA relays .
Sales grew overall, but the rise was particularly strong in food, drink and tobacco products, the German Statistics Office specified. In these sectors, revenues jumped 7.8 per cent compared to February 2019. Most favoured by this trend were supermarkets, whose revenues were up 8.3 per cent versus growth of 3.5 per cent at specialty stores.
Retail data is among the few good news for Europe's largest economy expected to fall into a recession this year hit by the pandemic.
And sales of non-food products also rose sharply - up 5.6 per cent from February last year, recorded in real figures. Online services and deliveries marked high results with an increase in revenues of 11 per cent compared to February 2019.
Sales of pharmaceutical and cosmetics were up 6.6 per cent. /
A spike in German retail sales because of the pandemic stock
German households stockpiling of essential goods amid expected tight restrictions and quarantine measures led to strong growth in retail sales in February. This is what official figures published today, quoted by Reuters.tags:
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