Retail sales increased significantly in Germany

According to the preliminary data released on Wednesday by the Federal Bureau of Statistics (Destatis), retail sales grew 3.5 percent in real terms and by 3.6 percent in real terms in June compared to the previous month, according to calendar and seasonal adjusted data.

So sharp increase, compared to the previous month occured the last time in November 2001. Analysts expected a real monthly growth of 0.5 percent after the 1.7 percent decline occred in May. (MTI)