German Retail Sales plunge by 5.0% YoY in October vs. -2.8% expected
|- German Retail Sales arrived at -5.0% YoY in October vs. -2.8% expected.
- Retail Sales in Germany came in at -2.8% MoM in October vs. -0.6% expected.
Germany's Retail Sales decreased by 2.8% MoM in October versus -0.6% expected and 0.9% previous, the official figures released by Destatis showed on Thursday.
On an annualized basis, the bloc’s Retail Sales came in at -5.0% in October versus the -2.8% expected and a 0.9% drop recorded in September.
FX implications
The Euro shrugs off the downbeat German data. At the time of writing, the major trades at 1.0455, up 0.47% 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.