BUSINESS
Retail sales in Germany reported record growth in May - Economo
BUSINESS

Retail sales in Germany reported record growth in May - Economo

Published: July 1, 2020  |  2 min read, 371 words
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German retail sales rose sharply in May, showing a recovery in private consumption after Germany lifted restrictions on fighting the spread of the coronavirus.Retail sales rose by 13.9% on a monthly basis in May after falling 6.5% in April, according to data from the Federal Statistical Office released on Wednesday. This is the largest increase in the indicator since the beginning of statistics in February 1994.On an annual basis, retail sales increased by 3.8% after a decline of 6.4% in the previous month. Thus, the meter realized its largest growth since February.Fear of the coronavirus... READ MORE
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