German Retail Sales fall 0.1% YoY in October vs. -2.0% expected

Dhwani Mehta FXStreet

Germany's Retail Sales rose 1.1% MoM in October versus a 0.4% increase expected and -0.8% in September, the latest official data released by Destatis showed on Thursday.

Retail Sales in the Eurozone's top economy dropped 0.1% YoY in October versus a 4.3% annual decline seen in September. The market forecast a decrease of 2.0%.

EUR/USD reaction to the German data

The Euro is little moved after the mixed German consumer spending data. At the time of writing, the EUR/USD is dropping 0.05% on the day to trade at 1.0971.

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.

(This story was corrected on November 30 at 7.23GMT to say that Retail Sales in the Eurozone's top economy dropped 0.1% YoY in October versus a 4.3% annual decline seen in September, not August)

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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