Retail sales in Germany increased in January and it is a new leap in seven years. According to figures released Tuesday, March 3 by the General Statistics Office, this particularly volatile index rose 2.9% on month in real terms, the largest increase since January 2008. This is significantly the 0.4% increase expected by economists polled by Reuters and this even goes beyond the most optimistic forecast of a 1.1% gain.
“A cheap oil, strong income growth, low interest rates and risks recede, all this is combined to provide a very strong start to the year for German retailers,” said Christian Schulz , economist at Berenberg Bank.
In one year, retail sales jumped 5.3% in real terms, of never-seen since June 2010. Again, this result is well above the 2.7% increase expected by economists polled by Reuters.
They are worn by both the food, beverages and tobacco, non-food items. But the biggest contributor of their increase is the online business (+ 14% yoy), a trend in Germany.
No comments:
Post a Comment