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- German Retail Sales drop 2.7% YoY in March vs. 7.0% previous
German Retail Sales drop 2.7% YoY in March vs. 7.0% previous
- German Retail Sales arrived at -2.7% YoY in March vs. 7.0% previous
- Retail Sales in Germany stood at -0.1% MoM in March vs. 0.3% expected.
Germany's Retail Sales dropped by 0.1% MoM in March versus 0.3% expected and 0.3% last, the official figures released by Destatis showed on Monday.
On an annualized basis, the bloc’s Retail Sales came in at -2.7% in March versus 7.0% recorded in February.
FX implications
The euro is little changed on the downbeat German data. At the time of writing, EUR/USD is trading at 1.0518, down 0.22% on the day.
About German Retail Sales
The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. The positive economic growth is usually anticipated as "bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
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