Retail sales in Germany climb in August
Retail sales in Germany improved in August, according to data released on Monday, easing growing concerns of recession issues in the manufacturing industry.
Europe’s largest economy gets a slight sigh of relief as retail sales improved by 0.5% for the month of August following a 0.8% downslide the previous month as revealed by the Federal Statistics Office.
On a yearly basis, German retail sales increased by 3.2% after an upwardly revised increase of 5.2% the previous month.
Trade conflicts form the U.S.-China trade war, as well as Britain’s act of leaving the European Union, have hurt the German export activities and cost the manufacturing sector into a recession.
The economy of Germany is expected to fall into recession in the third quarter of this year after it shrank in the second.
The soon-to-be-released data is expected to show a 5,000 unemployment rate in September.