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German wholesale trade defying recession

Despite economic crisis and looming recession the wholesale trade in Germany generated more turnover in September 2008. According to the Federal Statistical Office turnover increased by 14.7% (nominally) and 7.5% (in real terms). Also in comparison to August this year the German wholesale trade business generated more turnover. After adjustments for calendar and season sales grew by 0.9% (nominally) and by 0.5% (really) from August to September this year.

All six most important whole sale sectors generated more turnover in September this year than in September last year. The biggest increase was registered in the trade with agricultural basic materials and livestock which grew by 46.3% (nominally by +31.6%).

In the period from January to September 2008 the German wholesale trade generated 10.9% (nominally) and 3.5% (really) more turnover than in the same period last year. The German Association for Wholesale and Foreign Trade (BGA), however, warns against too much optimism. In view of the current financial crisis and dramatic developments in several lines of industry it would hardly be possible for this current positive development in wholesale trade to continue. It was important now for politics to send clear signals to business and the German people. GERMAN