German Retail Sales drop 2.2% m/m in July, a big miss (EUR unfazed)

German Retail Sales fell 2.2% m/m in July vs. -1.0% expected.
German Retail Sales rose 4.4% y/y in July vs. -1.4% last.

Dhwani Mehta FXStreet

According to the latest data reported by Germany’s Destatis on Friday, the country’s Retail Sales dropped 2.2% m/m in July versus -1.0% expected and +3.5% last.

On an annualized basis, the German Retail Sales jumped 4.4% in July versus -1.6% seen in June.

The mixed German data had virtually no impact on the shared currency, with EUR/USD moving back and forth near 1.1050 region. All eyes remain on Eurozone CPI data ahead of the US Personal Spending figures.

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.

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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