German economy gathers pace amid increase in retail sales

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/FP
German economy was buoyed by solid retail sales that gained 0.3% year-on-year in August and 0.5% compared to July, belying expectations of a monthly increase of 0.8% . Meanwhile, the GDP advanced 0.7% in Q2 , yet the growth is forecast to slow down in the third quarter, averaging at 0.3% in 2013 and 1.5% in 2014. At the same time, the Eurozone economy is anticipated to contract 0.4% in 2013 and grow 1% in 2014. 
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