German retailers see fourth year of nominal sales growth in 2013
DUESSELDORF, Germany, Sept 3
DUESSELDORF, Germany, Sept 3 (Reuters) - Germany's HDE retail association expects 2013 sales to grow by a nominal 1 percent, boosted by a stable labour market, rising wages and low interest rates, it said on Tuesday.
"It looks like the retail sector will reach a nominal sales plus for the fourth consecutive year in 2013," said HDE chief Stefan Genth. The sector, including retail giants like Metro AG, is helping to stabilise the German economy, he added.
Private consumption has helped prop up Europe's largest economy during the euro zone crisis. It narrowly escaped recession at the start of the year before posting bumper growth in the second quarter. (Reporting by Matthias Inverardi, writing by Annika Breidthardt, editing by Gareth Jones)