German retail sales rose more than forecast in May, adding to signs that a recovery in Europe’s largest economy has gathered pace this quarter.
Sales adjusted for inflation and seasonal swings climbed 0.8 percent from April, when they fell a revised 0.1 percent, the Federal Statistics Office in Wiesbaden said today. Economists had predicted an increase of 0.4 percent, according to the median of 23 estimates in a Bloomberg News survey. Sales increased 0.4 percent from a year earlier.
German unemployment unexpectedly declined in June, while the Ifo institute’s measure of business confidence climbed for a second month and ZEW’s investor sentiment index increased, reports showed this month. Consumer confidence in July will rise to the highest level since September 2007, GfK AG said this week.