German retail sales increased in January

Retail sales increased more than expected in January on an annual basis in Germany, according to a report released on Wednesday by the German Federal Statistics Office, Destatis.

Compared to January 2019, retail sales increased 1.8 percent in January this year. In December, retail sales grew 0.8 percent year-on-year, and analysts expected a 1.5 percent increase in January.

In January, retail sales increased by 0.9 percent year-on-year, after adjusting for the month-on-month decline of 3.3 percent in December. The market expected a 1.0 percent monthly growth for January. (MTI)