German consumers rushed to reopen their wallets after the lifting of coronavirus lockdowns in May, pushing retail sales in the country up by a record 13.9 per cent from the previous month, according to data published on Wednesday.
The monthly jump was the largest since the start of the data series in 1994, the Federal Statistical Agency said, and sales were 3.8 per cent higher than they were in the same month last year, suggesting that the easing of lockdowns released pent-up demand.
The data are the latest evidence that the German economy is rebounding from its low point when the pandemic was in full force, despite the fact that social-distancing rules remain in place and many large-scale public events are closed. Some economists said they could revise their estimates for the country’s economy upwards as a result.