German Retail Sales decline unexpectedly by 0.6% MoM vs. estimates of 0.2% growth

Sagar Dua FXStreet

German Retail Sales, a key measure of consumer spending, declines again in February. The consumer spending measure contracts 0.6% Month-on-month (MoM), according to official data released by Destatis, while it was expected to have grown 0.2%. In January, the data declined by 1.1%, revised lower from -0.9%.

On an annualized basis, Retail Sales grew at a moderate pace of 0.7%, against 1% estimates and the prior release of 1%, revised lower from 1.2%.

Market reaction

No immediate reaction was observed in the Euro (EUR) after the data release. As of writing, EUR/USD trades marginally higher around 1.1470.

(This story was corrected at 09:30 GMT to say in the second paragraph that the prior release of Retail Sales was 1%, and not 1.2%)

Economic Indicator

Retail Sales (MoM)

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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