German Retail Sales Rise 0.9% in May
June 30 2016 - 2:37AM
Dow Jones News
By Emese Bartha
FRANKFURT--German retail sales increased in May, in line with
expectations, according to data published by the Federal Statistics
Office Destatis on Thursday.
Retail sales increased by 0.9% in real, adjusted terms in May
from April, Destatis said. This outcome is in line with economists'
forecast in The Wall Street Journal's survey. April saw a decline
of 0.3% in retail sales.
On annual comparison, retail sales grew by 2.6% in real terms,
Destatis said, adding that May 2016 had 24 shopping days compared
with 23 in May 2015.
In the first five months of the year retail sales increased by
2.0% in real terms.
Among the product categories, food, beverages and tobacco sales
were up 2.2% in May on the year in real terms, while non-food sales
expanded by 2.8%. Selling via the internet and by mail order rose
by 8.5% from the same month of the previous year, Destatis
said.
German retail sales are considered a volatile indicator, prone
to significant revisions. Hence economists tend to look at monthly
data with caution and focus more on the three-month average.
Write to Emese Bartha at emese.bartha@wsj.com
(END) Dow Jones Newswires
June 30, 2016 02:22 ET (06:22 GMT)
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