More good news from Germany. The Federal Statistical Office Destatis reported this morning that the seasonally adjusted and calendar-adjusted retail sales index increased by 0,6% in April. The figure is decidedly higher than the expectations which predicted a less marked growth (+0,2%). On an annual basis the indicator fell by 3,8%. The March reading changed from +2,3% to +3,2% compared to the same month in 2010.
The institution also revised upwards the March figure from +0,8% to +1,6%, compared to the previous month.
In the first four months of 2012, retail sales recorded an average growth of 0,8%: a positive sign for the German economy which continues to improve despite the serious crisis affecting the countries of the euro area.
