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January Retail Sales In Germany Bounce Back After Dismal End To 2018

Published on Mar 1 2019 10:30 AM in Retail tagged: Trending Posts / Germany / Retail Sales / GfK

January Retail Sales In Germany Bounce Back After Dismal End To 2018

German retail sales jumped by 3.3% in January, posting the strongest rise since October 2016 and more than offsetting a sharp drop in December, official figures showed on Friday.

Sales rose by 2.6% on the year, Germany's Federal Statistics Office said in a statement.

The sharp monthly rebound marked a turnaround from December, when sales fell by 3.1% on the month.

Key Growth Driver

Household spending has become a key growth driver in recent years as Germans benefit from record-high employment and low borrowing costs but retail sales are a volatile indicator often subject to revision.

The good mood among German shoppers was unchanged heading into March, a GfK survey showed on Tuesday, suggesting that household spending will support overall economic growth in the first quarter of this year.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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