- German retail sales increased 1.2% month-on-month in February versus the + 2.0% expected.
- Retail sales fell 9.0% year-on-year in February compared to -6.3% expected.
According to the latest data reported by Destatis from Germany on Thursday, the country’s retail sales increased 1.2% month-on-month in February versus the + 2.0% expected and -4.5% from the previous month.
On an annualized basis, German retail sales stood at -9.0% in February compared to the -8.7% seen in January and the -6.3% expected.
About retail sales in Germany
The retail sales published by Destatis are a measure of changes in the sales of the German retail sector. These changes are closely followed as an indicator of consumer spending. A result above the market consensus is bullish for the euro, while a result below is bearish.
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