German retail sales rose less than expected in April, growing 0.6 per cent on a monthly basis, preliminary data from the Federal Statistics Office showed.
On an annual basis, the notoriously volatile indicator showed an increase of 3.6 per cent in real terms. Economists had expected a 1.8 per cent increase month-on-month and a 0.1 per cent drop year-on-year. Low unemployment and wage increases are expected to support consumption, but there are signs that inflation could weigh on morale in coming months. – (Reuters)
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