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German retail sales rise in February amid virus outbreak

Retail sales in Germany surprisingly rose in February as consumer demand for convenience goods increased amid the coronavirus outbreak, provisional data from the country's Federal Statistical Office showed.

Seasonally and calendar-adjusted retail sales grew 1.2% month over month in February following a 1.0% increase in January, which was revised 0.1 percentage point higher. The consensus estimate of economists polled by Econoday was for sales to come in flat in the month.

On an annual basis, retail turnover climbed 6.4%.

In nominal terms, retail sales rose 1.4% on a monthly basis and 7.7% on a yearly basis.