According to the Federal Statistical Office, turnover generated in the German wholesale trade business was down by 10.7% in nominal terms in January this year as compared to January last year. The last such drop in turnover had been registered in May 2002. In real terms turnover fell by 5.6%. In comparison with December 2008, turnover decreased by 0.3% (nominally) and increased by 0.6% (really) in January this year after adjustments for season and calendar.
In the wholesale trade with raw materials and semi finished goods, which is an early indicator for industrial output, turnover fell by 14.2% (nominally) and 4.6% (really) in January this year as compared to last year. With regard to the wholesale trade with consumer goods which serves as an early indicator for private consumption the respective changes were -6.3% and -7.0% in January this year.
The only exception was the wholesale trade with agricultural basic materials and livestock where turnover grew by 20.6% in real terms in January 2009 (-11.6% in nominal terms). In all other wholesale trade branches turnover generated in January 2009 was down in both nominal and real terms as compared to the same month in 2008. 