- Retail sales in Germany fell 5.9% yoy in November versus -2.5% expected.
- The monthly indicator grew 1.1% month-on-month against the estimated 1.0%.
German retail sales rose 1.1%m/m in November, versus 1.0% expected, improving on -2.8% previously, official figures published by Destatis showed on Friday.
In annualized terms, sales retailers they fell 5.9% in November, compared to the -2.5% forecast and the 5.0% drop registered in October. This is the sixth consecutive month with declines in the indicator, and November’s the most important drop in five months.
market reaction
The euro stands out from the negative data for Germany. At the time of writing, the pair is trading above 1.0516, slightly flat on the day.
German retail sales information
Retail sales published by the Statistisches Bundesamt Deutschland measure the evolution of sales in the German retail sector. The indicator shows the behavior of the retail sector in the short term. The percentage changes reflect the rate of change of such sales. Variations are widely followed as an indicator of consumer spending. Positive economic growth is often anticipated as “bullish” for the euro, while a low reading is viewed as negative, or bearish, for the euro.
Source: Fx Street
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