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.
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.
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.