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Germany’s retail sales climb more than expected in Jan

by ChemOrbis Editorial Team -
  • 29/02/2016 (14:11)
According to data released by Germany’s statistics office Destatis, the country’s retail sales climbed 0.7% on the month in January following an upwardly revised increase of 0.6% in December, exceeding economists’ estimates, which called for a decrease of 0.1% in a survey by the Wall Street Journal.

The increase was attributed to higher private consumption, which was elevated by increased employment rates and wages as well as low inflation.

On a yearly basis, meanwhile, Germany’s retail sales declined by 0.8% in January.
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