The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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German June Retail Sales Decline Revised To 0.3%

(RTTNews) - German retail sales turnover decreased by a real 0.3% month-on-month in June after seasonal and calendar adjustments, the Federal Statistical Office reported Wednesday. Methodological improvements led to a revision in retail sales turnover data released on July 30. The initial estimate for June was a 0.9% fall.
Annually, turnover in retail trade grew 4.7% in real terms and 5.3% in nominal terms in June. The provisional results had indicated an increase of 3.1% in real terms and 3.8% in nominal terms on the same month of the previous year.
Further, new results showed that retail turnover in the first half of 2010 was up a nominal 1.8% and a real 0.9% on the first half of 2009.

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