BERLIN, Sept 30 German retail sales rose more
than expected in August, data showed on Friday, in another
positive sign for consumer spending that is expected to drive
growth in Europe's biggest economy and compensate for weakening
The volatile indicator, which is often subject to revision,
showed retail sales jumped by 3.7 percent on the year in real
terms, the Federal Statistics Office said. This was higher than
a forecast in a Reuters poll for a 1.3 percent rise.
On the month, retail sales edged down 0.4 percent in real
terms, the data showed. The monthly figure for July was revised
down to a rise of 0.5 percent from a previously reported
increase of 1.7 percent.
In the first eight months of the year, retail sales rose by
2.2 percent in real terms and by 2.3 percent in nominal terms
compared with the same period of the previous year.
Germany's HDE retail association last week raised its
forecast for nominal sales growth in 2016 to 2.5 percent, up
from its previous forecast of 2.0 percent.
The German government expects soaring private consumption,
helped by record-high employment, rising real wages and nearly
stable prices, to help the economy grow by 1.7 percent this
year. Economic institutes predict an expansion of 1.9 percent.
(Reporting by Michael Nienaber)