31 May 2006

German Sales Beat Forecasts

Bloomberg.com: Top Worldwide: "May 31 (Bloomberg) -- Confidence in Europe's economy unexpectedly rose to the highest in five years in May as German retail sales jumped and unemployment fell, cementing the case for higher interest rates next week. Bonds fell.
A European Union index of economic sentiment in households and companies in the dozen euro nations climbed to 106.7, up from 105.7 last month and the highest since April 2001. Retail sales in Germany, the continent's largest economy, rose 2.8 percent in April after dropping in the two previous months. Both reports were stronger than forecast. "

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