According to recent data from the Federal Statistics Office, German retail sales jumped unexpectedly in February suggesting a strong rise for the quarter and overall growth in Europe’s largest economy. Retail sales rose 1.3% in real terms in February, easily outstripping the 0.8% predicted by economists in a recent Reuters poll. The consensus forecast was for a 0.5 % fall. Holger Sandte of Nordea told the news agency the figures were far stronger than expected and that consumption would be a central pillar of support for growth in 2014.
