German Retail Sales drop by 2.9% YoY in October vs. -2.0% expected

German Retail Sales arrived at -2.9% YoY in October vs. -2.0% expected.
Retail Sales in Germany stood at -0.3% MoM in October vs. 1.0% expected.

Dhwani Mehta FXStreet

Germany's Retail Sales fell by 0.3% MoM in October versus 1.0% expected and -2.5% last, the official figures released by Destatis showed on Wednesday.

On an annualized basis, the bloc’s Retail Sales came in at -2.9% in October versus -0.9% booked in September and -2.0% estimated.

FX implications

The euro shows little reaction to the downbeat German Retail Sales data.

At the press time, the major trades at 1.1332, little changed 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.

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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