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Friday, May 29, 2009

German Retail Sales Up Slightly In April

German retail sales were up in April for the first time in four months as warmer weather and the late Easter seem to have encouraged consumers to spend more. Sales, adjusted for inflation and seasonal swings, rose 0.5 percent from March, the Federal Statistics Office in Wiesbaden said today. Nonetheless, year on year sales were still down 0.8 percent.

And in the longer run German retail sales are declining steadily.

Indeed according to the May retail sales PMI, Germany posted the steepest fall in monthly sales among the "big three", replacing Italy in poll position. The German PMI fell to 46.3, the twelfth successive month the measure has shown a negative reading.

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