Latest data released by Destatis - 1 July 2021
- Prior -5.5%
- Retail sales -2.4% vs -1.0% y/y expected
- Prior +4.4%
The bounce in May owes much to the easing of restrictions so that is a positive development, which sets the tone for a perhaps stronger consumption outlook going into the summer as the virus situation has improved significantly in recent weeks as well.
