Germany: Retail Sales Fall 7.1% YoY in February vs. 5.2% Decline Expected

• Retail sales in Germany fell 7.1% yoy in February versus -5.2% expected.
• The gauge fell 1.3% MoM vs. +0.5% expected.

According to official figures published by Destatis on Friday, the German retail sales fell 1.3% mom in February, versus +0.5% expected and -0.3% prior. This is the third consecutive fall of the indicator

In annualized terms, the German retail sales fell 7.1% in February, compared to the -5.2% expected and the decrease of 6.9% registered in January. This is the ninth month in a row that the indicator has fallen. February’s is the biggest drop seen since June 2022.

About retail sales in Germany

Retail sales published by the Statistisches Bundesamt Deutschland are a measure of changes in sales in the German retail sector. It shows the behavior of the retail sector in the short term. The percentage changes reflect the rate of change of those 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.