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Economy

German Retail Sales Rise Rapidly in May

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By Douglas A. McIntyre Updated Published
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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.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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