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German retail body sees sales growing by 2% in 2016

Friday, January 29, 2016 - 17:51
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German retail sales will probably rise by 2.0 per cent to around 482 billion euros (US$525 billion) this year after rising by their strongest rate in two decades in 2015, Germany's HDE retail association said on Friday.

[BERLIN] German retail sales will probably rise by 2.0 per cent to around 482 billion euros (US$525 billion) this year after rising by their strongest rate in two decades in 2015, Germany's HDE retail association said on Friday.

"Business expectations are positive," said HDE Managing Director Stefan Genth.

HDE's figures can differ from official data released by the Federal Statistics Office as they include different branches of retail.

Official data released earlier on Friday showed nominal retail sales were up by 2.8 per cent on the year in 2015 while real retail sales were up by 2.7 per cent on the year.

German consumers are benefitting from record-high employment and rising wages while cheap oil is also freeing up some of their cash for other purchases.

REUTERS