German retail sales edge up on the month in August
BERLIN, Sept 28 |
BERLIN, Sept 28 (Reuters) - German retail sales increased marginally in August on a monthly basis, rising 0.3 percent in real terms, preliminary data showed on Friday, bolstering hopes private consumption will prop up the German economy through the global economic downturn.
The notoriously volatile indicator was down 0.8 percent percent on an annual basis. Economists polled by Reuters had forecast retail sales would rise by 0.6 percent on the month.
July retail sales were revised downwards to a drop of 1.0 percent on the month, from a previously reported drop of 0.9 percent. On an annual basis July sales were revised down to a fall of 1.6 percent from a drop of 1.0 percent. (Reporting by Michelle Martin, editing by Gareth Jones)
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