German Retail Sales drop 0.9% YoY in September vs. -0.4% expected

German Retail Sales arrived at -0.9% YoY in September vs. -0.4% expected.
Retail Sales in Germany jumped 0.9% MoM in September vs. -0.3% expected.

Dhwani Mehta FXStreet

Germany's Retail Sales rebounded by 0.9% MoM in September versus -0.3% expected and -1.3% previous, the official figures released by Destatis showed on Monday.

On an annualized basis, the bloc’s Retail Sales came in at -0.9% in September versus the -0.4% expected and a 4.3% slump recorded in August.

FX implications

The euro is paring losses on the mixed German data. At the time of writing, the major trades at 0.9950, down 0.11% 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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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