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German Retail Sales Rise more than Expected in March

April 30 (Reuters) - German retail sales rose more than expected in March, pointing a recovery in consumption at the end of the month.

Retail sales increased by 1.8% compared with the previous month, data from the German statistics office showed on Tuesday.

Analysts polled by Reuters had predicted a 1.1% increase.

Higher prices took their toll in consumption last year, but private consumption is expected to contribute significant growth momentum this year as real wages are seen rising in a resilient labour market.

German consumer sentiment is set to rise in May on the back of households' brighter income expectations, continuing a path of recovery that has been slow-going due to uncertainty about the country's economic development, the GfK survey showed last week.

Reporting by Ozan Ergenay and Maria Martinez, editing by Andrey Sychev

Source: Reuters


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