GERMAN RETAIL SALES ROSE 1.2% IN FEBRUARY
The German Statistical Office has published data on the dynamics of retail sales in the country. They indicate a 1.2% increase in retail sales in February compared to the figure recorded in January. Analysts had expected a more significant increase in retail sales in Germany. They assumed that on a monthly basis, sales would grow by 2%. The country's retail network continues to be negatively affected by lockdown. It was introduced in December last year to stop the rapid increase in the number of coronavirus infections. In this regard, many stores were closed. The Statistical Office also revised the January figure for retail sales. Adjusted data show a 6.5% decline in retail sales in January. The initial estimate was 4.5%. On an annualized basis, retail sales in Germany fell 9% in February, with a 6.3% decline forecast. In January, retail in the country collapsed by 9.3%. An improvement in the situation in the German retail network will be possible after the lifting of previously imposed restrictions.