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Business

German Retail Sales Rise Offers Hope for Economy

After six months of stagnation, German retailers reported an increase in sales during the month of April, according to Germany's central bank. The Bundesbank said retail sales increased by 2.5 percent in April over the previous month, the first increase since October. Morgan Stanley economist
Annemarieke Christian told the wire service Agence France Presse that the numbers suggested that "the long-awaited pick-up in consumer spending might finally be materializing." Dampened consumer spending has played a major role in the country's economic stagnation in recent years, and some are hopeful the boosted sales figures could also help boost consumer confidence.