Germany's retail sales surge in August
(MENAFN) Official data showed that Germany's retail sales surged sharply in the month of August, signaling a positive vibe amid confusing figures released lately, Xinhua reported.
According to the Federal Statistical Office (Destatis), retail sales jumped 2.5 percent compared to the month of July, following a month-on-month decline of 1.1 percent in July.
The soar was also the biggest since June 2011. Meanwhile, during the January-July period, turnover in German retail sector was 1.2 percent higher than during the same period of 2013.
German economic expansion was mainly affected by consumption which was the main pillar of it and a positive contributor to GDP in the second quarter, during which Europe's largest economy shrank 0.2 percent.
According to the Federal Statistical Office (Destatis), retail sales jumped 2.5 percent compared to the month of July, following a month-on-month decline of 1.1 percent in July.
The soar was also the biggest since June 2011. Meanwhile, during the January-July period, turnover in German retail sector was 1.2 percent higher than during the same period of 2013.
German economic expansion was mainly affected by consumption which was the main pillar of it and a positive contributor to GDP in the second quarter, during which Europe's largest economy shrank 0.2 percent.
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