Wednesday 26 October 2016

Retail sales up as German shoppers shrug off China woes

Noah Barkin and Paul Carrel

Published 01/09/2015 | 02:30

Germany: sales up
Germany: sales up

German retail sales rose month-on-month at their strongest pace in nine months in July, reinforcing expectations that private consumption will support growth in Europe's largest economy this year.

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The 1.4pc increase, measured in real terms, was above a Reuters consensus forecast for a rise of 1pc and the biggest monthly increase since October of last year.

Retail sales is a notoriously volatile indicator that is often subject to large revisions. The June reading was revised to a drop of 1pc from an originally reported decline of 2.3pc.

On a year-on-year basis, retail sales posted their second strong month of strong gains, rising 3.3pc after a 5.2pc increase in June.

A breakdown of the figures showed a robust 9.2pc rise in internet and mail-order sales.

The robust retail sales figures add to a generally healthy economic picture in Germany, although a slowdown in China has raised questions about the strength of exports. (Reuters)

Irish Independent

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