German retail sales surprisingly strong

German shoppers are showing surprising strength in adversity with consumer confidence in the eurozone’s largest economy hitting its highest level for more than a year in July 2009 even as evidence mounts of a credit squeeze across continental Europe.

GFK: Press Release, 27.7.09: Consumer climate – upwards trend continues http://www.gfk.com/imperia/md/content/presse/090727_consumer_climate_july_efin.pdf

Deutsche Welle, 27.7.09: German consumer confidence surges on economic hopes http://www.dw-world.de/dw/article/0,,4520408,00.html

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