German retail sales posted their biggest year-on-year increase in March since the start of the COVID-19 pandemic, data showed on Monday, as the relaxation of some lockdown measures boosted purchases of clothes and shoes.
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BERLIN German retail sales posted their biggest year-on-year increase in March since the start of the COVID-19 pandemic, data showed on Monday, as the relaxation of some lockdown measures boosted purchases of clothes and shoes.
The Federal Statistics Office said retail sales jumped 11.0% compared to the same month a year earlier in real terms after an upwardly revised fall of 6.6% in February. The March reading overshot a Reuters forecast for a decline of 0.3%
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By Syndicated Content
By Paul Carrel and Andreas Rinke
BERLIN (Reuters) â The reprieve is over. A year-long waiver on insolvency filings has ended in Germany and there are already signs that bankruptcies are starting to pick up in Europeâs largest economy.
Germany introduced the waiver last March, when the COVID-19 pandemic hit, part of a package of measures aimed at supporting businesses but which gave rise to the charge that the government was simply propping up âzombie companiesâ with no future.
Insolvencies duly fell. But since October, Berlin has phased out the waiver. This year only firms awaiting state aid provided since November were exempt from filing â until now. Monday is the first business day that exemption no longer applies.
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BERLIN German retail sales posted their biggest year-on-year increase in March since the start of the COVID-19 pandemic, data showed on Monday, as the relaxation of some lockdown measures boosted purchases of clothes and shoes.
The Federal Statistics Office said retail sales jumped 11.0% compared to the same month a year earlier in real terms after an upwardly revised fall of 6.6% in February. The March reading overshot a Reuters forecast for a decline of 0.3%
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Time s up for zombie German firms as insolvency waiver expires Reuters 2 hrs ago Insolvency waiver for last group of exempt firms ends
Popular Searches But no insolvency tsunami expected Robust global demand seen supporting economic recovery
By Paul Carrel and Andreas Rinke
BERLIN, May 3 (Reuters) - The reprieve is over. A year-long waiver on insolvency filings has ended in Germany and there are already signs that bankruptcies are starting to pick up in Europe s largest economy.
Germany introduced the waiver last March, when the COVID-19 pandemic hit, part of a package of measures aimed at supporting businesses but which gave rise to the charge that the government was simply propping up zombie companies with no future.