Germany Retail Sales Rebound In January

Germany's retail sales rebounded in January, data published by Destatis revealed on Wednesday.

Retail sales grew 0.9 percent on a monthly basis in January, in contrast to a 2 percent decrease in December. Nonetheless, this was slightly slower than the expected growth of 1 percent.

On a yearly basis, retail sales growth increased marginally to 1.8 percent from 1.7 percent in December. The annual growth exceeded the 1.5 percent rise economists had forecast.

Sales of food, beverages and tobacco products climbed 1 percent annually and non-food product sales grew 2.2 percent in January.

In nominal terms, retail turnover grew 1.2 percent on a monthly basis taking the annual growth to 3 percent.

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