Retail sales in Germany rose by 3.5 percent on a monthly basis in June following a fall in April and May.
According to provisional data released by the German Federal Statistical Office (Destatis), calendar and seasonally adjusted real retail sales rose by 3.5 percent in June compared to May. Sales also decreased by 1.6 percent compared to June 2018.
Retail sales, the market is expected to rise well above the monthly 0.5 percent increase is remarkable. In Germany, retailers go on a discount in July, while public interest in these discounts is high.
Retail sales in the first half of the year increased by 2.9 percent compared to the same period last year.
The Retailers Association of Germany (HDE) predicts that retail sales will grow by 2 percent in 2019 compared to last year. Retail sales in the country have grown steadily since 2009, while HDE expects total retail sales to reach 537 billion euros this year.
While trade conflicts, the slowdown in the global economy and concerns about Brexit adversely affected German exports, record employment in the country, an increase in salary inflation rate, low inflation and low interest rates supported household expenditures, while these expenditures also contributed to the growth of the German economy. contributes.