German real retail sales were more subdued than expected in November. The data indicate German consumers were cautious in the run-up to Christmas, though anecdotal evidence suggests most retailers were satisfied with their total level of holiday sales. Despite the weak November gain, ex-petrol/auto real retail sales were up 1.7% in the first 11 months of last year compared to the same period of 1999, with nominal sales up 2.9%. Sales in the different retail sub-sectors showed diverging results on the year-to-year comparison. Increases were noted in particular for sales of pharmaceutical and medical supplies, up a real 5.7% y/y followed by sales of tobacco, up a real 2.7% y/y. These increases were partly offset by declines, mainly for sales of heating oil and fuels were down a real 14.7% y/y, followed by declining sales of clothing, down a real 2.2% y/y. Nominal auto sales (Bundesbank data) were down 4.8% y/y, a deeper annual decline than the 3.9% drop posted in October.