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|BERLIN Davide Astori World Cup Jersey , Jan. 30 (Xinhua) -- German retail sales increased in 2014 by 1.4 percent, the strongest growth in tha past four years, official data showed on Friday, confirming that private consumption played a key role in supporting the recovery of Europe's biggest economy last year.
Sales in German retail sectors increased for the fourth consecutive year in 2014, and hit the highest level since 2010 when the sales grew by 1.5 percent, German federal statistical office Destatis said.
In December 2014 Daniele Padelli World Cup Jersey , the retail sales rose by 0.2 percent in calender, seasonal and inflation adjusted terms, weaker than strong monthly growth in previous two months.
The yearly growth in December, however, was the strongest in recent two and half years. Compared with the same month of 2013, retail sales increased by 4 percent in real terms.
Solid labour market Claudio Marchisio World Cup Jersey , low commodity prices and interest rates were regarded as main contributors to dynamic private consumption in Germany. Dropping oil prices in recent weeks was also seen as a stimulus to consumption as it left consumers more money to spend on other goods.
Earlier this week, market research institute GfK said its indicator measuring German consumers' confidence surged to its highest level in more than 13 years.
German government now expects private consumption to play as the main pillar supporting the economy for another year in 2015, after it led a growth of 1.5 percent in German gross domestic product (GDP) in 2014.
HELSINKI, Jan. 22 (Xinhua) -- The OP-Pohjola banking and insurance group has published a more optimistic outlook for the Finnish economy this year and next, Finnish media reported on Thursday.
The group has raised the estimate of growth of Finland's gross national product in 2015 to 1.0 percent, higher than its previous forecast of 0.6 percent.
In 2016 Ciro Immobile World Cup Jersey , Finland would see a 1.7 percent growth, added OP-Pohjola Group, one of the largest financial organizations in Finland.
Finland has suffered severe slowdown in its economy for three consecutive years.
The forecast maintained that Finnish exports would continue recovering and would benefit from a lower value of the euro and the decline in oil prices.
The problems facing neighboring Russia would, however, affect Finnish export industries, but the improvement in the world economy would Antonio Candreva World Cup Jersey , nevertheless, offset the impact.
Reijo Heiskanen, chief economist of OP-Pohjola Group, did not rule out the possibility that the value of the euro would go down to parity with the U.S. dollar. He told media that the situation would support Finnish exports as well.
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