Germany’s service sector recorded a decline in turnover in November 2024, according to preliminary results announced by the Federal Statistical Office (Destatis) on Tuesday. Compared to the previous month, October, the real and seasonally adjusted turnover of the service sector decreased by 0.5 percent and 0.3 percent, respectively, in nominal terms. In comparison to the same month of the previous year, November 2023, the calendar and seasonally adjusted turnover of the service sector showed an increase of 0.2 percent in real terms and 3.6 percent in nominal terms.
The information and communication sector recorded the largest real turnover increase, with a growth of 0.6 percent, followed by the sector of freelance, scientific and technical services, as well as the transportation and warehousing sector, with a slight increase of 0.1 percent each.
In contrast, the real turnover of the sector of other economic services (such as leasing of movable assets and labor mediation) and the real estate and housing sector decreased by 1.4 percent and 5.0 percent, respectively.