World Economy

German Retail Sales Keep Rising

German Retail Sales Keep RisingGerman Retail Sales Keep Rising

Retailers in Germany have had a surprisingly strong July, indicating that household confidence may be growing, DW reported. It continues the previous month’s upward trend compared to 2014, the national statistics office said Monday. Retail sales rose 1.4% in real terms and 1.3% in nominal terms compared to June, outperforming forecasts of a 1.3% real rise, the Federal Statistics Office (Destatis) said. This was the strongest growth in 10 months in the EU’s largest market. The year-on-year boost was even stronger, with retail sales up 3.3% in real terms and 3.1% nominal over July 2014, with particularly strong gains in areas including textiles and food.