German Retail Sales Surged in June as Unemployment Declined
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German retail sales surged the most on record in June as falling unemployment boosted household purchasing power.
Sales, adjusted for inflation and seasonal swings, rose 6.3 percent from May, when they fell 2.5 percent, the Federal Statistics Office in Wiesbaden said today. That’s the strongest increase since 1991, when data for a reunified Germany were first available. Economists had forecast a gain of 1.7 percent, the median of 22 estimates in a Bloomberg News survey showed. Sales dropped 1 percent in the year.