German Retail Sales Dip

Published by: Dave Simmons on 31st Jan 2011 | View all blogs by Dave Simmons

German Retail Sales Dip

Retail sales in Germany dropped unexpectedly in December for a second consecutive month, according to a Monday report from the Federal Statistics Office, falling 0.3 percent from November. Economists in a recent Bloomberg News survey had projected a rise in retail figures of 2 percent, on average.

The agency recently reported that Germany's economic growth slowed to 0.5 percent in 2010's final quarter, from a 0.7 percent growth rate in the third. The nation's unemployment rate, meanwhile, fell to 7.5 percent during the period, compared to an 8.1 percent jobless rate in 2009's fourth quarter.

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