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Business

Retail Sales Better than Thought in 2004

The German retail industry had better figures in 2004 than initially thought. New calculations show that retail sales last year were 1.2 percent higher than in 2003, according to Germany's Federal Statistics Office. Up to now, the office had calculated a decline in 2004 of 1.7 percent. In both 2002 and 2003, retails sales had fallen from the previous years. The data from the first four months of 2005 has also been revised by statisticians. Sales in January rose 2.2 percent, fell 2.1 percent in February, rose 0.9 percent in March and fell 2.8 percent in April. The retail industry in Germany has for years been in crisis mode and domestic consumption is considered the weak link in the Germany economy.

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