Germany’s Federal Statistical Office Destatis reports that retail sales rose by 1.4% in June compared with the previous month. This reading is the maximum one since January 2015. Experts predicted only a 1.1% increase.
Analysts expected growth of 1.7% in annual terms, but retails sales climbed by 3.3%.
In June, the print dropped by 2.3% in comparison with the preceding month, but rose by 5.1% on a yearly basis.
In the second quarter of the current year, the German economy expanded by 0.4% in regard to the period of January to March and by 1.6% year-on-year.
The European Commission anticipates that Germany’s GDP growth will be 1.9% in 2015 and 2% in 2016. Still, the German central bank revised its forecast upwards in June based on the data on unemployment fall to the record low and growth in domestic consumption. The regulator predicts that GDP will grow by 1.7% in 2015 and 1.8% in 2016.
