German retail body confirms 2014 forecast of 1.5 pct sales growth
DUESSELDORF, Germany, Sept 3
DUESSELDORF, Germany, Sept 3 (Reuters) - Germany's HDE retail association on Wednesday confirmed its forecast for nominal sales to grow by 1.5 percent this year to around 456.8 billion euros thanks to booming online trade.
HDE said the conditions for retail trade remained good thanks to high employment and rising wages while moderate inflation and favourable interest rates encourage consumption.
In the first six months of the year retailers saw their sales increase by 2.4 percent in nominal terms but HDE said the rate of growth was likely to slow down in the second half of the year. (Reporting by Matthias Inverardi; Writing by Michelle Martin; Editing by Madeline Chambers)