German retail sales jump 4.7% y/y in February, a big beat

German retail sales rose by 0.9 % on the month in February vs. January’s +3.3% - the strongest rise since October 2016 and -0.9% expectations, the official figures published by Germany’s Federal Statistics Office showed on Friday.

Sales rose sharply by 4.7% on the year vs. a sharp 2.6% rebound seen in January and 2.8% consensus forecast.