German retail sales increased 0.2% MoM (vs 0.0% MoM expected) and were up 2.9% YoY in January, slightly higher than 2.8% YoY in December.

• Food sales were up 1.5% MoM, and non-food sales were down -0.2% MoM.
• On an annual basis, clothing sales are down -4.7% YoY, the weakest category by far.
• Retail sales excluding gas stations were up 3.5% YoY, and gas sales were up 3.3% YoY.