July 1, 2020 / 6:17 AM / 9 days ago

German retail sales rebound in May as lockdown lifted

BERLIN, July 1 (Reuters) - German retail sales rose sharply in May, data showed on Wednesday, reflecting a rebound in private consumption as Germany lifted restrictions imposed to stop the spread of the coronavirus.

Retail sales rose by 13.9% on the month in real terms after a downwardly revised drop of 6.5% in April, data from the Federal Statistics Office showed. A Reuters forecast had predicted a 3.9% increase.

On the year, retail sales rose by 3.8% in real terms after an decrease of 6.4% the previous month, the data showed.

Retail sales are a volatile indicator often subject to revision. (Reporting by Joseph Nasr; Editing by Maria Sheahan)

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