The signs that the German economy is in a recovery instead of a period of stagnation have continued to grow. Retail sales data for May confirmed this. The Germany consumer has become an engine of GDP improvement, perhaps replacing the awful recessions and consequent lack of imports by its neighbors.
The government reported:
According to provisional results of the Federal Statistical Office (Destatis), retail turnover in May 2013 in Germany increased 2.0% in nominal terms and 0.4% in real terms compared with the corresponding month of the previous year. The number of days open for sale was 24 in May 2013 and 24 in May 2012, too.
When adjusted for calendar and seasonal variations (CENSUS-X-12-ARIMA), the May turnover was in nominal terms 1.1% and in real terms 0.8% larger than that in April 2013.
Compared with the previous year, turnover in retail trade was in the first five months of 2013 in nominal terms 1.6% and in real terms 0.2% larger than that in the corresponding period of the previous year.
With struggles in the other large economies — which include the United States, China and to a lesser extent Japan — Germany may be the single bright spot.
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
