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- German Retail Sales plunge 4.3% YoY in August vs. -5.1% expected
German Retail Sales plunge 4.3% YoY in August vs. -5.1% expected
- German Retail Sales arrived at -4.3% YoY in August vs. -5.6% expected.
- Retail Sales in Germany stood at -1.3% MoM in August vs. -1.0% expected.
Germany's Retail Sales fell by 1.3% MoM in August versus -1.0% expected and 1.9% previous, the official figures released by Destatis showed on Friday.
On an annualized basis, the bloc’s Retail Sales came in at -4.3% in August versus the -5.1% expected and a 2.6% drop recorded in July.
FX implications
The euro is little changed on the mixed German data. At the time of writing, the major trades at 0.9793, up 0.07% so far.
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. 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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