Data released earlier today showed that seasonally adjusted Germany Retail PMI –which measures month-on-month changes in sales on a like-for-like basis – rose from April’s 51.0 to 54.0 in May, thereby signalling the fourth successive rise in month-on-month sales. Around 49% of panellists reported an expansion in sales on an annual basis, versus 22% that signalled a decline.
German retailers raised their purchasing activity for a fourth month running in May. May data signalled the first rise in gross operating margins in five-and-a-half years. However, the rate at which margins grew was only marginal overall. Retailers linked growth in retail sales to good weather and a positive mood among consumers.
Retailers in Germany expect next month’s sales to be higher than previously planned. Moreover, the degree of optimism was slightly higher than that recorded in the previous survey period.
“Not only did the Retail PMI rise to one of its highest levels for a year, but companies also reported to have exceeded their sales targets for a second month running,” notes Oliver Kolodseike, Economist at Markit.
The material has been provided by InstaForex Company – www.instaforex.com