German Retail Sales jump by 4.2% MoM in May vs. 5.0% expected, EUR/USD in lows
|- German Retail Sales jumped by 4.2% MoM in May vs. 5.0% expected.
- Retail Sales fell by 2.4% YoY in May vs. 10.1% expected.
According to the latest data reported by Germany’s Destatis on Thursday, the country’s Retail Sales rebounded 4.2% MoM in May versus 5.0% expected and -5.5% last.
On an annualized basis, the German Retail Sales came in at -2.4% in May versus 4.4% seen in April and 10.1% expected.
FX implications
EUR/USD hits fresh three-month lows of 1.1839 on downbeat German Retail Sales data. The pair is down 0.11% on the day.
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. The positive economic growth usually anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
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