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German retail sales start year positively

German retail sales started this year positively. Retail sales rose in January and became higher than expectations, according to economic data released on Monday.


Seasonally adjusted retail sales rose by 0.7% after growth by 0.6% at the end of the last year. December meaning was revised up.


According to forecasts of economists, it was expected growth by 0.1%.


Annual retail sales fell in January by 0.8%. However, it was due to different number of trading days in this January and a year ago: 25 and 26 days correspondingly.


In Germany this indicator is quite unstable and revised from time to time. Hence, economists are very careful in analysis of current situation basing on this indicator, preferring average indicator for three months to monthly data.