Retailers in Germany have experienced first signs of a nascent recovery after two months of contracting sales across Europe's biggest economy. There was more to come as consumer confidence pointed upwards.
German retail sales ended a two-month period of contraction, the National Statistics Office (Destatis) reported Monday.
It said sales expanded by 0.5 percent in August on a month-on-month basis in price, calendar and seasonally adjusted terms. The improvement came on the back of a 0.2-percent contraction in July and an even stronger 1.1-percent setback in June.
Business also improved for retailers in a year-on-year comparison, with sales showing a modest adjusted 0.3-percent increase in August compared with the results logged in the same month a year earlier.
Not all that glitters…
By contrast, books and jewelry didn't sell well, nor did furniture and household appliances. Together, the sectors logged a 4.6-percent decline in the month under revision.
The national retail lobbying group HDE said it expected sales to rise by 1 percent throughout the current year, hoping for good business after market researchers showed last week consumer confidence in the country had reached a six-year high.
hg/hc (dpa, Reuters, AFP)