Monday, 5 March 2012

German retail sales fall unexpectedly in January


Retail sales in Germany did fall unexpectedly in January by 1.6% compared with the previous month, the biggest drop since May last year, official figures have shown.

Falling consumer spending and exports contributed to a contraction in the German economy - Europe's largest - in final three months of last year.

"The January results are a disappointment. In the mild weather much less winter clothing and winter sports articles were sold," said Rainer Sartoris at HSBC Trinkaus.

http://www.bbc.co.uk/news/business-17229681