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sábado, 17 de agosto de 2013

German retail sales slump unexpectedly

FRANKFURT
German retail sales unexpectedly slumped in June, official data showed Wednesday, as the extreme rainfall at the beginning of the month kept some shoppers away from the high Street
Retail sales in June dropped 1.5% on the month, fully erasing gains made in April and May and marking the sharpest monthly drop since December 2012, data from the Federal Statistics Office showed
The numbers are inflation-adjusted and also consider calendar effects
The weak result will puzzle private-sector economists, who forecast that Germany's robust labor market and buoyant consumer confidence would spur retail trade
German Economics Minister Philipp Roesler on Tuesday said that "private consumption remains a reliable pillar that will ensure a further pickup in economic growth in the course of the year."
Compared with June 2012, German shopkeepers' situation looks even more dire, as sales slumped 2.8% on the year
But the statistics office cautioned that there was one working day less this June than a year ago
"That has certainly knocked the result," a spokesman at the statistics office said
Internet trade was a rare bright spot in June, as sales in this category increased 1.6% from June 2012
German retail sales in January to June were down 0.1% from the same period a year earlier

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