July 1, 2020 / 6:31 AM / 10 days ago

German retail sales rebound in May as lockdown lifted

FILE PHOTO: People are seen in front of the entrance of the Rhein Center shopping mall after the re-opening of the borders, amid the coronavirus disease (COVID-19) outbreak, in Weil am Rhein, Germany June 15, 2020. REUTERS/Arnd Wiegmann/File Photo

BERLIN (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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